Man Group plc Purchases New Position in Globe Life Inc. $GL

Man Group plc purchased a new position in Globe Life Inc. (NYSE:GL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,641 shares of the company’s stock, valued at approximately $651,000.

Other hedge funds also recently bought and sold shares of the company. Compound Planning Inc. grew its holdings in Globe Life by 4.3% in the fourth quarter. Compound Planning Inc. now owns 1,968 shares of the company’s stock valued at $275,000 after purchasing an additional 82 shares during the period. Root Financial Partners LLC lifted its position in shares of Globe Life by 23.3% during the 1st quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 83 shares in the last quarter. Parallel Advisors LLC grew its stake in Globe Life by 5.6% in the 4th quarter. Parallel Advisors LLC now owns 1,651 shares of the company’s stock valued at $231,000 after acquiring an additional 87 shares during the period. First United Bank & Trust grew its stake in Globe Life by 2.1% in the 1st quarter. First United Bank & Trust now owns 4,355 shares of the company’s stock valued at $606,000 after acquiring an additional 90 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Globe Life by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,366 shares of the company’s stock worth $329,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods cut their target price on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Jefferies Financial Group boosted their price objective on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, TD Cowen increased their target price on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and an average price target of $191.67.

Insider Buying and Selling

In other Globe Life news, CFO Thomas Kalmbach sold 21,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $180.06, for a total value of $3,781,260.00. Following the completion of the sale, the chief financial officer directly owned 50,568 shares of the company’s stock, valued at $9,105,274.08. This trade represents a 29.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank Svoboda sold 10,000 shares of Globe Life stock in a transaction on Friday, June 12th. The stock was sold at an average price of $166.68, for a total value of $1,666,800.00. Following the transaction, the chief executive officer owned 54,020 shares in the company, valued at approximately $9,004,053.60. This represents a 15.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 151,908 shares of company stock worth $27,239,981 over the last quarter. Corporate insiders own 2.11% of the company’s stock.

Globe Life Stock Performance

GL opened at $176.34 on Friday. Globe Life Inc. has a twelve month low of $127.85 and a twelve month high of $191.55. The firm has a market capitalization of $13.55 billion, a PE ratio of 11.71 and a beta of 0.46. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $178.65 and its 200 day moving average price is $160.50.

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

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.7%. Globe Life’s payout ratio is 8.76%.

Globe Life declared that its Board of Directors has authorized a stock repurchase program on Monday, August 10th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to repurchase up to 17.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board 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.