Truist Financial Corp Sells 5,346 Shares of Globe Life Inc. $GL

Truist Financial Corp lessened its holdings in shares of Globe Life Inc. (NYSE:GL) by 11.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,998 shares of the company’s stock after selling 5,346 shares during the quarter. Truist Financial Corp’s holdings in Globe Life were worth $4,971,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Globe Life by 4.1% during the first 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 in the last quarter. DAVENPORT & Co LLC bought a new position in shares of Globe Life in the first quarter valued at approximately $493,000. Atlas Capital Advisors Inc. bought a new position in shares of Globe Life in the first quarter valued at approximately $893,000. Sequoia Financial Advisors LLC raised its position in shares of Globe Life by 693.4% in the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company’s stock valued at $3,185,000 after purchasing an additional 21,136 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position 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 purchasing an additional 723 shares during the period. Institutional investors own 81.61% of the company’s stock.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 12,500 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was 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 directly owned 32,747 shares of the company’s stock, valued at $4,629,770.86. This represents a 27.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 value of $1,374,100.00. Following the completion of the sale, the executive vice president directly owned 47,066 shares of the company’s stock, valued at approximately $6,467,339.06. This trade represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.97% of the stock is owned by company insiders.

Globe Life Stock Up 1.3%

Shares of NYSE GL opened at $135.70 on Wednesday. The firm’s 50-day simple moving average is $140.43 and its 200 day simple moving average is $128.66. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 10.85 and a beta of 0.55. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 12-month low of $100.27 and a 12-month high of $147.83.

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

Globe Life Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life’s payout ratio is currently 8.63%.

Analysts Set New Price Targets

GL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Morgan Stanley set a $179.00 price target on shares of Globe Life and gave the company an “overweight” rating in a research report on Tuesday. Cfra Research raised shares of Globe Life to a “moderate buy” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Globe Life in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.18.

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.