DMC Group LLC Purchases 537 Shares of Globe Life Inc. $GL

DMC Group LLC raised its holdings in shares of Globe Life Inc. (NYSE:GL) by 17.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,602 shares of the company’s stock after acquiring an additional 537 shares during the quarter. DMC Group LLC’s holdings in Globe Life were worth $448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Assets Advisory LLC bought a new stake in shares of Globe Life in the second quarter worth about $25,000. AdvisorNet Financial Inc increased its holdings in shares of Globe Life by 60.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock worth $28,000 after buying an additional 84 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in Globe Life during the second quarter worth approximately $39,000. SouthState Corp bought a new stake in Globe Life during the first quarter worth approximately $43,000. Finally, Ransom Advisory Ltd bought a new stake in Globe Life during the first quarter worth approximately $50,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 1.3%

NYSE GL opened at $135.70 on Wednesday. The company’s 50-day moving average price is $140.43 and its 200-day moving average price is $128.66. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.99 billion, a PE ratio of 10.85 and a beta of 0.55. Globe Life Inc. has a 12 month low of $100.27 and a 12 month high of $147.83.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.02. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Equities research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life’s dividend payout ratio is 8.63%.

Insider Transactions at Globe Life

In other news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the transaction, the chief executive officer owned 49,842 shares of the company’s stock, valued at approximately $6,758,076.78. This represents a 40.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the transaction, the executive vice president directly owned 47,066 shares in the company, valued at $6,467,339.06. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,722 shares of company stock worth $11,733,793 in the last ninety days. 1.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on GL. Wells Fargo & Company boosted their target price on Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. BMO Capital Markets reiterated a “market perform” rating and set a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Truist Financial assumed coverage on shares of Globe Life in a research report on Tuesday, July 15th. They set a “buy” rating and a $150.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Globe Life in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.18.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.