Royal Bank of Canada Has $23.15 Million Stock Holdings in Globe Life Inc. $GL

Royal Bank of Canada raised its holdings in Globe Life Inc. (NYSE:GL) by 14.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 175,722 shares of the company’s stock after purchasing an additional 22,143 shares during the quarter. Royal Bank of Canada owned 0.21% of Globe Life worth $23,147,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Globe Life by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 101,679 shares of the company’s stock valued at $13,393,000 after acquiring an additional 3,960 shares during the last quarter. DAVENPORT & Co LLC bought a new position in shares of Globe Life in the 1st quarter valued at $493,000. Atlas Capital Advisors Inc. bought a new position in shares of Globe Life in the 1st quarter valued at $893,000. Sequoia Financial Advisors LLC lifted its stake in shares of Globe Life by 693.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company’s stock valued at $3,185,000 after acquiring an additional 21,136 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Globe Life by 8.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company’s stock valued at $1,260,000 after buying an additional 723 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction of $1,767,250.00. Following the transaction, the chief executive officer owned 32,747 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO James Matthew Darden sold 33,270 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were 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 in the company, valued at $6,758,076.78. This represents a 40.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,722 shares of company stock valued at $11,733,793 over the last 90 days. 1.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on GL. BMO Capital Markets reaffirmed a “market perform” rating and issued a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Cfra Research upgraded Globe Life to a “moderate buy” rating in a report on Friday, July 25th. JPMorgan Chase & Co. increased 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. Truist Financial began 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. Finally, Morgan Stanley increased their price objective on Globe Life from $166.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.45.

Globe Life Stock Performance

Shares of GL opened at $140.42 on Tuesday. 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 capitalization of $11.37 billion, a P/E ratio of 11.22 and a beta of 0.56. The firm’s fifty day simple moving average is $132.89 and its two-hundred day simple moving average is $126.25. Globe Life Inc. has a 12 month low of $99.04 and a 12 month high of $144.00.

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

Globe Life Announces Dividend

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