7,319 Shares in Globe Life Inc. $GL Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 7,319 Globe Life shares worth approximately $1.31 million during the second quarter. Institutional investors collectively own 81.61% of the insurer.
• Globe Life insiders sold 191,747 shares valued at $33.5 million over the past 90 days, including substantial sales by the CEO and an executive vice president.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $191.67. Globe Life also authorized a $2.5 billion share-repurchase program and declared a quarterly dividend of $0.33 per share.

Assenagon Asset Management S.A. acquired a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,319 shares of the company's stock, valued at approximately $1,308,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Compound Planning Inc. increased 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 boosted its stake 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 valued at $61,000 after purchasing an additional 83 shares during the last quarter. Transcend Capital Advisors LLC raised its position in shares of Globe Life by 3.9% in the 4th quarter. Transcend Capital Advisors LLC now owns 2,265 shares of the company's stock worth $317,000 after acquiring an additional 84 shares in the last quarter. Parallel Advisors LLC raised its position 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 acquiring an additional 87 shares in the last quarter. Finally, First United Bank & Trust lifted its stake in shares of 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 purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Buying and Selling

In related news, EVP Michael Clay Majors sold 37,000 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the completion of the transaction, the executive vice president owned 53,518 shares of the company's stock, valued at approximately $9,560,455.52. The trade was a 40.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Matthew Darden sold 50,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the completion of the sale, the chief executive officer owned 58,451 shares in the company, valued at $10,663,215.93. This represents a 46.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 191,747 shares of company stock valued at $33,480,408 in the last 90 days. Corporate insiders own 2.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GL. Truist Financial raised their target price on Globe Life from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. TD Cowen boosted their price target on Globe Life from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $181.00 to $201.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Morgan Stanley upped their target price on Globe Life from $181.00 to $208.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Finally, Weiss Ratings cut Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, July 20th. 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $191.67.

Globe Life Price Performance

Globe Life stock opened at $180.87 on Friday. 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 company has a market cap of $13.90 billion, a price-to-earnings ratio of 12.01 and a beta of 0.48. Globe Life Inc. has a 12 month low of $127.85 and a 12 month high of $191.55. The business's 50 day simple moving average is $177.16 and its 200 day simple moving average is $157.27.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.67 by ($0.06). The firm 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%. The company's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Sell-side analysts forecast that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life announced that its board has authorized a stock repurchase plan on Monday, August 10th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 17.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Globe Life Announces Dividend

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 issued 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 of this dividend is Monday, October 5th. Globe Life's dividend payout ratio (DPR) is presently 8.76%.

Globe Life Company Profile

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.

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