Cresset Asset Management LLC Makes New $253,000 Investment in Globe Life Inc. $GL

Cresset Asset Management LLC bought a new stake in shares of Globe Life Inc. (NYSE:GL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,923 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Amalgamated Bank boosted its position in Globe Life by 0.5% during the first quarter. Amalgamated Bank now owns 16,348 shares of the company’s stock worth $2,153,000 after purchasing an additional 85 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Globe Life by 4.0% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock valued at $256,000 after buying an additional 88 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Globe Life by 0.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company’s stock valued at $2,605,000 after acquiring an additional 89 shares during the period. Venturi Wealth Management LLC increased its holdings in Globe Life by 1.1% in the 1st quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company’s stock worth $1,084,000 after acquiring an additional 93 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in Globe Life by 4.2% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,366 shares of the company’s stock worth $293,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity

In related news, CEO Frank M. Svoboda sold 12,500 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $141.38, for a total value of $1,767,250.00. Following the completion of the sale, the chief executive officer owned 32,747 shares of the company’s stock, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the sale, the chief financial officer owned 30,665 shares of the company’s stock, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,722 shares of company stock worth $11,733,793. 1.97% of the stock is owned by insiders.

Analyst Ratings Changes

GL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Piper Sandler decreased their price target on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Cfra Research upgraded Globe Life to a “moderate buy” rating in a report on Friday, July 25th. JPMorgan Chase & Co. increased their target price on Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.45.

Globe Life Trading Up 0.2%

GL opened at $139.72 on Wednesday. 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 company’s 50 day simple moving average is $129.59 and its two-hundred day simple moving average is $125.13. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 11.17 and a beta of 0.56. Globe Life Inc. has a 1-year low of $99.04 and a 1-year high of $144.00.

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

Globe Life Dividend Announcement

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

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.