USA Financial Formulas Cuts Stake in Globe Life Inc. $GL

USA Financial Formulas lowered its holdings in shares of Globe Life Inc. (NYSE:GL) by 21.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,989 shares of the company’s stock after selling 1,945 shares during the quarter. USA Financial Formulas’ holdings in Globe Life were worth $869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Globe Life by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,741,131 shares of the company’s stock valued at $229,323,000 after buying an additional 148,397 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Globe Life by 35.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,025,984 shares of the company’s stock valued at $135,143,000 after buying an additional 271,253 shares during the last quarter. Nuveen LLC bought a new position in Globe Life during the first quarter valued at approximately $131,608,000. Swedbank AB boosted its stake in Globe Life by 77.0% during the first quarter. Swedbank AB now owns 832,000 shares of the company’s stock valued at $109,591,000 after buying an additional 362,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Globe Life by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company’s stock valued at $102,927,000 after buying an additional 3,312 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Clay Majors sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 12,500 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock valued at $11,733,793 over the last quarter. 1.51% of the stock is currently owned by insiders.

Globe Life Price Performance

NYSE:GL opened at $141.13 on Thursday. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 11.28 and a beta of 0.55. Globe Life Inc. has a 1 year low of $100.27 and a 1 year high of $147.83. The business has a 50 day simple moving average of $140.37 and a 200-day simple moving average of $128.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06.

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 analysts’ consensus estimates 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 period last year, the company earned $2.97 EPS. Globe Life’s quarterly revenue 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 analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

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 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 of this dividend is Friday, October 3rd. Globe Life’s dividend payout ratio (DPR) is currently 8.63%.

Analyst Ratings Changes

A number of brokerages recently commented on GL. Truist Financial began coverage on Globe Life in a research note on Tuesday, July 15th. They set a “buy” rating and a $150.00 price target for the company. BMO Capital Markets reissued a “market perform” rating and set a $149.00 price target (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. 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 research note on Tuesday, July 8th. Wells Fargo & Company raised their price objective on Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Finally, Cfra Research raised Globe Life to a “moderate buy” rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.