Welch Group LLC Sells 128 Shares of Globe Life Inc. $GL

Welch Group LLC cut its stake in Globe Life Inc. (NYSE:GL) by 0.3% in the second quarter, Holdings Channel reports. The institutional investor owned 47,577 shares of the company’s stock after selling 128 shares during the period. Welch Group LLC’s holdings in Globe Life were worth $5,913,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Globe Life by 4.1% during the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company’s stock worth $13,393,000 after purchasing an additional 3,960 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Globe Life during the first quarter worth $493,000. Atlas Capital Advisors Inc. bought a new stake in shares of Globe Life during the first quarter worth $893,000. Sequoia Financial Advisors LLC lifted its position in shares of Globe Life by 693.4% during the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company’s stock worth $3,185,000 after purchasing an additional 21,136 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Globe Life by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company’s stock worth $1,260,000 after purchasing an additional 723 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Insider Activity

In other Globe Life news, CFO Thomas Peter Kalmbach sold 28,952 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following the completion of the transaction, the chief financial officer directly owned 30,665 shares in the company, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the completion of the transaction, the executive vice president owned 47,066 shares of the company’s stock, valued at $6,467,339.06. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,722 shares of company stock valued at $11,733,793. Company insiders own 1.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Globe Life in a research report on Wednesday, October 8th. Morgan Stanley set a $179.00 target price on Globe Life and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. BMO Capital Markets restated a “market perform” rating and issued a $149.00 price objective (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Finally, Truist Financial initiated coverage on Globe Life in a report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $155.70.

Globe Life Stock Performance

GL stock opened at $135.71 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06. The business has a 50-day moving average price of $140.22 and a 200 day moving average price of $128.76. The company has a market capitalization of $10.99 billion, a P/E ratio of 10.85 and a beta of 0.55. Globe Life Inc. has a 1-year low of $100.27 and a 1-year high of $147.83.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

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

About Globe Life

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.