Czech National Bank Purchases 896 Shares of Globe Life Inc. $GL

Czech National Bank increased its holdings in shares of Globe Life Inc. (NYSE:GL) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,176 shares of the company’s stock after purchasing an additional 896 shares during the quarter. Czech National Bank’s holdings in Globe Life were worth $2,508,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in 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 buying an additional 3,960 shares during the period. DAVENPORT & Co LLC purchased a new stake in shares of Globe Life in the first quarter valued at about $493,000. Atlas Capital Advisors Inc. bought a new position in Globe Life during the first quarter valued at about $893,000. Sequoia Financial Advisors LLC grew its position in Globe Life by 693.4% during the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company’s stock valued at $3,185,000 after buying an additional 21,136 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in 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 period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analysts Set New Price Targets

GL has been the topic of several recent analyst reports. Truist Financial started coverage on shares of Globe Life in a report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 target price on the stock. Wells Fargo & Company increased their price target on Globe Life from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Morgan Stanley raised their price objective on Globe Life from $166.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. JPMorgan Chase & Co. lifted their price target on Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Cfra Research upgraded Globe Life to a “moderate buy” rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.45.

Insider Activity

In other Globe Life news, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life 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 completion of the transaction, the chief financial officer directly owned 30,665 shares of the company’s stock, valued at $4,322,845.05. The trade was a 48.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the transaction, the executive vice president owned 47,066 shares in the company, valued at approximately $6,467,339.06. This trade represents a 17.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,722 shares of company stock valued at $11,733,793. Company insiders own 1.51% of the company’s stock.

Globe Life Trading Up 1.2%

GL opened at $145.37 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average of $136.78 and a 200-day moving average of $127.32. The stock has a market cap of $11.77 billion, a PE ratio of 11.62 and a beta of 0.56. Globe Life Inc. has a twelve month low of $100.27 and a twelve month high of $146.18.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.25 by $0.02. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company earned $2.97 earnings per share. The firm’s revenue for the quarter 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, sell-side 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. Investors of record on Friday, October 3rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, October 3rd. Globe Life’s dividend payout ratio (DPR) is presently 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.