Fifth Third Bancorp Reduces Position in Globe Life Inc. $GL

Fifth Third Bancorp lessened its holdings in shares of Globe Life Inc. (NYSE:GL) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,283 shares of the company’s stock after selling 244 shares during the period. Fifth Third Bancorp’s holdings in Globe Life were worth $905,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Counterpoint Mutual Funds LLC purchased a new position in shares of Globe Life during the second quarter valued at approximately $409,000. CHICAGO TRUST Co NA boosted its position in shares of Globe Life by 8.2% during the second quarter. CHICAGO TRUST Co NA now owns 3,508 shares of the company’s stock valued at $436,000 after buying an additional 267 shares during the period. AdvisorNet Financial Inc boosted its position in shares of Globe Life by 60.0% during the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock valued at $28,000 after buying an additional 84 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Globe Life during the second quarter valued at approximately $2,472,000. Finally, Park Avenue Securities LLC purchased a new position in shares of Globe Life during the second quarter valued at approximately $326,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of GL opened at $144.48 on Monday. Globe Life Inc. has a 12 month low of $100.27 and a 12 month high of $147.83. The stock has a fifty day moving average price of $139.18 and a 200-day moving average price of $128.08. 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 firm has a market cap of $11.70 billion, a PE ratio of 11.55 and a beta of 0.56.

Globe Life (NYSE:GL) last issued its quarterly earnings data 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 analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $2.97 EPS. The business’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. Equities research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed 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 0.7%. The ex-dividend date is Friday, October 3rd. Globe Life’s dividend payout ratio is currently 8.63%.

Insider Transactions at Globe Life

In related news, EVP Michael Clay Majors sold 10,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the transaction, the executive vice president directly owned 47,066 shares of the company’s stock, valued at $6,467,339.06. This represents a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold 84,722 shares of company stock valued at $11,733,793 in the last quarter. Insiders own 1.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GL. Truist Financial began coverage on Globe Life in a report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 price target for the company. JPMorgan Chase & Co. boosted their price target 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 reiterated a “market perform” rating and issued a $149.00 price target (up previously from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Cfra Research upgraded Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Finally, Wells Fargo & Company boosted their price target on Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a 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 assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.45.

Globe Life 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.