DMC Group LLC Buys 537 Shares of Globe Life Inc. $GL

DMC Group LLC raised its stake in shares of Globe Life Inc. (NYSE:GL) by 17.5% during the 2nd quarter, Holdings Channel reports. The fund owned 3,602 shares of the company’s stock after purchasing an additional 537 shares during the period. DMC Group LLC’s holdings in Globe Life were worth $448,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new stake in Globe Life during the second quarter valued at about $25,000. AdvisorNet Financial Inc boosted its holdings in shares of Globe Life by 60.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock valued at $28,000 after buying an additional 84 shares in the last quarter. TD Private Client Wealth LLC bought a new stake in shares of Globe Life in the 2nd quarter valued at about $39,000. SouthState Corp bought a new stake in shares of Globe Life in the 1st quarter valued at about $43,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Globe Life in the 1st quarter valued at about $50,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 1.3%

Globe Life stock opened at $135.70 on Wednesday. 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 52 week low of $100.27 and a 52 week high of $147.83. The stock has a 50-day moving average price of $140.43 and a 200 day moving average price of $128.66. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 10.85 and a beta of 0.55.

Globe Life (NYSE:GL) last announced 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 net margin of 18.11% and a return on equity of 21.24%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business posted $2.97 EPS. The business’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. Sell-side analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

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

Wall Street Analysts Forecast Growth

GL has been the subject of several recent analyst reports. Truist Financial initiated coverage on shares of Globe Life in a research note on Tuesday, July 15th. They issued a “buy” rating and a $150.00 target price for the company. BMO Capital Markets reissued a “market perform” rating and issued a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Morgan Stanley set a $179.00 price objective on Globe Life and gave the stock an “overweight” rating in a research report on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Globe Life in a report on Saturday, September 27th. Finally, Wells Fargo & Company raised their price target on Globe Life from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.18.

Insider Buying and Selling

In related news, EVP Michael Clay Majors sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 47,066 shares of the company’s stock, valued at approximately $6,467,339.06. This represents a 17.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the transaction, the chief executive officer directly owned 49,842 shares of the company’s stock, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 Company 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.