Globe Life Inc. $GL is Leith Wheeler Investment Counsel Ltd.’s 5th Largest Position

Leith Wheeler Investment Counsel Ltd. increased its position in Globe Life Inc. (NYSE:GL) by 615.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 656,807 shares of the company’s stock after purchasing an additional 565,061 shares during the quarter. Globe Life accounts for 4.8% of Leith Wheeler Investment Counsel Ltd.’s portfolio, making the stock its 5th largest position. Leith Wheeler Investment Counsel Ltd. owned 0.80% of Globe Life worth $81,635,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GL. GAMMA Investing LLC boosted its stake in Globe Life by 18.8% during the 1st quarter. GAMMA Investing LLC now owns 5,936 shares of the company’s stock valued at $782,000 after acquiring an additional 941 shares during the last quarter. CX Institutional acquired a new stake in shares of Globe Life in the 1st quarter worth about $217,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Globe Life by 8.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,799 shares of the company’s stock worth $3,003,000 after acquiring an additional 1,861 shares during the period. Sagespring Wealth Partners LLC acquired a new stake in shares of Globe Life in the 1st quarter worth about $240,000. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Globe Life in the 1st quarter worth about $4,342,000. 81.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GL. Truist Financial began coverage on shares of Globe Life in a report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Globe Life in a research note on Wednesday, October 8th. Cfra Research raised shares of Globe Life to a “moderate buy” rating in a research note on Friday, July 25th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average price target of $155.70.

Globe Life Stock Performance

Shares of GL opened at $135.71 on Monday. The firm’s 50 day moving average is $140.22 and its 200-day moving average is $128.76. The stock has a market capitalization of $10.99 billion, a P/E ratio of 10.85 and a beta of 0.55. 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 Inc. has a 12-month low of $100.27 and a 12-month high of $147.83.

Globe Life (NYSE:GL) last announced its quarterly earnings data 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 company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter 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 research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

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 paid 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 payout ratio is currently 8.63%.

Insider Buying and Selling at Globe Life

In other news, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction that occurred 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 transaction, the chief financial officer owned 30,665 shares of the company’s stock, valued at $4,322,845.05. The trade was a 48.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 12,500 shares of Globe Life stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,747 shares in the company, 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. Over the last 90 days, insiders sold 84,722 shares of company stock worth $11,733,793. 1.97% of the stock is currently owned by company insiders.

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.