UniSuper Management Pty Ltd Reduces Position in Globe Life Inc. $GL

UniSuper Management Pty Ltd lessened its stake in shares of Globe Life Inc. (NYSE:GL) by 12.3% during the 1st quarter, Holdings Channel reports. The firm owned 14,041 shares of the company’s stock after selling 1,976 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Globe Life were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Globe Life by 9.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,741,131 shares of the company’s stock worth $229,323,000 after purchasing an additional 148,397 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Globe Life by 35.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,025,984 shares of the company’s stock worth $135,143,000 after purchasing an additional 271,253 shares during the last quarter. Nuveen LLC purchased a new stake in Globe Life during the 1st quarter worth approximately $131,608,000. GAMMA Investing LLC grew its position in Globe Life by 15,553.5% during the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company’s stock worth $102,991,000 after purchasing an additional 776,895 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Globe Life by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company’s stock worth $102,927,000 after purchasing an additional 3,312 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of NYSE GL opened at $138.87 on Thursday. The company’s fifty day moving average price is $133.57 and its 200 day moving average price is $126.44. Globe Life Inc. has a 1 year low of $99.04 and a 1 year high of $144.00. The company has a market capitalization of $11.25 billion, a PE ratio of 11.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06.

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

Globe Life Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on GL. Wall Street Zen raised shares of Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Morgan Stanley upped their price objective on shares of Globe Life from $166.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, August 18th. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Truist Financial began coverage on shares of Globe Life in a research report on Tuesday, July 15th. They set a “buy” rating and a $150.00 target price for the company. Finally, Cfra Research upgraded shares of Globe Life to a “moderate buy” rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $152.45.

Insider Activity

In related news, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the sale, the chief financial officer directly owned 30,665 shares of the company’s stock, valued at approximately $4,322,845.05. This represents a 48.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer directly owned 49,842 shares in the company, valued at $6,758,076.78. This trade represents a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.51% of the stock is currently owned by corporate insiders.

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.