Wellington Management Group LLP Sells 561,683 Shares of Globe Life Inc. $GL

Wellington Management Group LLP cut its stake in shares of Globe Life Inc. (NYSE:GL) by 42.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 761,798 shares of the company’s stock after selling 561,683 shares during the period. Wellington Management Group LLP’s holdings in Globe Life were worth $136,118,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Globe Life during the 2nd quarter worth approximately $987,901,000. Invesco Ltd. raised its position in Globe Life by 2.7% during the fourth quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock worth $552,262,000 after acquiring an additional 102,445 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Globe Life by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock worth $327,479,000 after acquiring an additional 217,331 shares in the last quarter. Morgan Stanley lifted its stake in Globe Life by 7.2% in the fourth quarter. Morgan Stanley now owns 1,860,257 shares of the company’s stock valued at $260,176,000 after acquiring an additional 125,567 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Globe Life by 32.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,435,247 shares of the company’s stock valued at $200,734,000 after acquiring an additional 355,399 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. TD Cowen lifted their price target on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Jefferies Financial Group boosted their price target on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Wells Fargo & Company upped their price objective on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Piper Sandler raised their price objective on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average target price of $191.67.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the completion of the sale, the chief executive officer directly owned 54,020 shares in the company, valued at $9,004,053.60. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cheryl Alston sold 8,258 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $179.24, for a total transaction of $1,480,163.92. Following the sale, the director owned 16,621 shares of the company’s stock, valued at $2,979,148.04. This trade represents a 33.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 151,908 shares of company stock worth $27,239,981. 2.11% of the stock is currently owned by insiders.

Globe Life Trading Down 0.1%

GL stock opened at $172.59 on Tuesday. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 11.46 and a beta of 0.48. The company has a fifty day moving average price of $178.78 and a two-hundred day moving average price of $159.87. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. Globe Life’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities analysts anticipate that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a $0.33 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. Globe Life’s dividend payout ratio is 8.76%.

Globe Life announced that its board has initiated a stock buyback plan on Monday, August 10th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Globe Life

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.