Great Lakes Advisors LLC Acquires New Position in Globe Life Inc. $GL

Great Lakes Advisors LLC bought a new position in Globe Life Inc. (NYSE:GL) in the second quarter, Holdings Channel reports. The institutional investor bought 59,247 shares of the company’s stock, valued at approximately $10,586,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GL. Danske Bank A S purchased a new position in shares of Globe Life during the second quarter worth approximately $107,000. Wealthfront Advisers LLC bought a new stake in shares of Globe Life in the 2nd quarter worth approximately $8,640,000. Equity Investment Corp purchased a new stake in shares of Globe Life in the 2nd quarter valued at $122,971,000. Pzena Investment Management LLC bought a new position in shares of Globe Life during the 2nd quarter valued at $242,256,000. Finally, Citizens Financial Group Inc. RI purchased a new position in Globe Life in the 2nd quarter worth $441,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling

In other Globe Life news, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total value of $6,609,680.00. Following the completion of the transaction, the executive vice president owned 53,518 shares in the company, valued at approximately $9,560,455.52. This represents a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cheryl Alston sold 8,258 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were 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 in the company, valued at approximately $2,979,148.04. This trade represents a 33.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 179,844 shares of company stock worth $31,616,279 over the last quarter. Company insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods decreased their price objective on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Wells Fargo & Company boosted their target price on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Jefferies Financial Group increased their target price on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.67.

Globe Life Price Performance

Shares of NYSE GL opened at $178.10 on Wednesday. Globe Life Inc. has a 1 year low of $127.85 and a 1 year high of $191.55. The stock has a market capitalization of $13.69 billion, a P/E ratio of 11.83 and a beta of 0.48. The company’s 50-day moving average is $177.99 and its 200 day moving average is $157.99. 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 EPS 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 analysts’ expectations of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. On average, sell-side analysts expect that Globe Life Inc. will post 15.71 earnings per share for the current year.

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

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, October 5th. Globe Life’s dividend payout ratio (DPR) is presently 8.76%.

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.