194,212 Shares in Globe Life Inc. $GL Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 194,212 Globe Life shares in the second quarter, valued at approximately $34.7 million and representing about 0.25% of the insurer. Institutional investors collectively own 81.61% of the company.
• Globe Life reported quarterly EPS of $3.61, below the $3.67 consensus estimate, while revenue rose 8% year over year to $1.60 billion. The company declared a $0.33 quarterly dividend and authorized a $2.5 billion share-repurchase program.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $191.67. However, insiders—including the CEO—have sold $27.2 million worth of shares over the past 90 days.

Deutsche Bank AG acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 194,212 shares of the company's stock, valued at approximately $34,702,000. Deutsche Bank AG owned about 0.25% of Globe Life as of its most recent SEC filing.

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

Globe Life Trading Up 0.3%

Globe Life stock opened at $171.07 on Friday. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 11.36 and a beta of 0.48. The stock has a 50-day moving average price of $178.36 and a 200 day moving average price of $158.52. Globe Life Inc. has a 52 week low of $127.85 and a 52 week high of $191.55. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Sell-side analysts anticipate that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life Dividend Announcement

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

Globe Life declared that its board has approved a stock repurchase program on Monday, August 10th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GL shares. Keefe, Bruyette & Woods cut their price objective on shares of Globe Life from $192.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, July 24th. Truist Financial increased their price objective on shares of Globe Life from $180.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Weiss Ratings downgraded shares of Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, July 20th. TD Cowen upped their target price on Globe Life from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Finally, Piper Sandler raised their price target on Globe Life from $175.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock 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 James Matthew Darden sold 50,000 shares of the company's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $182.43, for a total value of $9,121,500.00. Following the completion of the sale, the chief executive officer directly owned 58,451 shares in the company, valued at $10,663,215.93. This represents a 46.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cheryl Alston sold 8,258 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 16,621 shares of the company's stock, valued at approximately $2,979,148.04. This trade represents a 33.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 151,908 shares of company stock valued at $27,239,981. 2.11% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source