Algert Global LLC Sells 34,510 Shares of Globe Life Inc. $GL

Key Points

• Algert Global cut its Globe Life stake by 49.2% in the second quarter, selling 34,510 shares and retaining 35,637 shares valued at approximately $6.4 million. Institutional investors collectively own 81.61% of GL.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $191.67. Recent targets range from $166 to $225.
• Globe Life reported quarterly EPS of $3.61, slightly below estimates, while revenue rose 8% year over year to $1.60 billion. The company also announced a $2.5 billion share-repurchase program and maintained a quarterly dividend of $0.33 per share.

Algert Global LLC reduced its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 49.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,637 shares of the company's stock after selling 34,510 shares during the quarter. Algert Global LLC's holdings in Globe Life were worth $6,368,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Globe Life by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company's stock worth $1,411,311,000 after acquiring an additional 86,349 shares in the last quarter. BlackRock Inc. bought a new position in shares of Globe Life during the second quarter valued at $987,901,000. Invesco Ltd. grew its stake in shares of Globe Life by 2.7% in 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 during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Globe Life by 10.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company's stock valued at $327,479,000 after buying an additional 217,331 shares during the period. Finally, Morgan Stanley increased its position in Globe Life by 7.2% during 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. Institutional investors own 81.61% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on GL shares. Keefe, Bruyette & Woods cut their price target on Globe Life from $192.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, July 24th. Jefferies Financial Group raised their price objective on Globe Life from $147.00 to $166.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Wells Fargo & Company increased their price objective on shares of Globe Life from $172.00 to $193.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their target price on Globe Life from $181.00 to $201.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Finally, TD Cowen raised their price objective on shares of Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. One investment 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $191.67.

Insider Activity at Globe Life

In other news, Director Cheryl Alston sold 8,258 shares of the firm's stock in a transaction dated 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 approximately $2,979,148.04. This trade represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Peter Kalmbach sold 25,650 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $178.58, for a total transaction of $4,580,577.00. Following the completion of the transaction, the chief financial officer directly owned 50,568 shares in the company, valued at $9,030,433.44. This trade represents a 33.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 151,908 shares of company stock worth $27,239,981 over the last ninety days. Company insiders own 2.11% of the company's stock.

Globe Life Stock Performance

Shares of GL opened at $175.56 on Thursday. The stock has a 50-day moving average of $178.63 and a two-hundred day moving average of $159.23. The stock has a market cap of $13.49 billion, a P/E ratio of 11.66 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results 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 company 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 company's revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, research analysts predict that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be given 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 dividend yield of 0.8%. Globe Life's dividend payout ratio (DPR) is presently 8.76%.

Globe Life declared that its Board of Directors has initiated a share repurchase program on Monday, August 10th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 17.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management 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.

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