Public Employees Retirement System of Ohio Has $3.98 Million Stake in Globe Life Inc. $GL

Public Employees Retirement System of Ohio grew its holdings in Globe Life Inc. (NYSE:GL) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,991 shares of the company’s stock after buying an additional 1,441 shares during the period. Public Employees Retirement System of Ohio’s holdings in Globe Life were worth $3,976,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GL. AdvisorNet Financial Inc increased its stake in shares of Globe Life by 60.0% during the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock worth $28,000 after purchasing an additional 84 shares during the period. SouthState Corp bought a new position in shares of Globe Life during the first quarter worth approximately $43,000. Ransom Advisory Ltd acquired a new position in Globe Life in the 1st quarter valued at $50,000. SVB Wealth LLC acquired a new position in Globe Life in the 1st quarter valued at $63,000. Finally, Allworth Financial LP raised its holdings in Globe Life by 22.0% in the 1st quarter. Allworth Financial LP now owns 571 shares of the company’s stock valued at $71,000 after acquiring an additional 103 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on GL. Wells Fargo & Company lifted their price objective on Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised 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. Cfra Research raised Globe Life to a “moderate buy” rating in a report on Friday, July 25th. BMO Capital Markets reissued a “market perform” rating and set a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Finally, Morgan Stanley raised 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 investment 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’s stock. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average price target of $152.45.

Insiders Place Their Bets

In other news, CFO Thomas Peter Kalmbach sold 28,952 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was 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 of the company’s stock, valued at $4,322,845.05. This represents a 48.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 32,747 shares of the company’s stock, valued at approximately $4,629,770.86. This trade represents a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 84,722 shares of company stock valued at $11,733,793. Insiders own 1.97% of the company’s stock.

Globe Life Stock Performance

Shares of GL opened at $142.99 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a 50 day moving average price of $140.04 and a two-hundred day moving average price of $128.31. The firm has a market capitalization of $11.58 billion, a P/E ratio of 11.43 and a beta of 0.56. Globe Life Inc. has a 52 week low of $100.27 and a 52 week high of $147.83.

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

Globe Life Announces Dividend

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

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.