Bank of Nova Scotia purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,404 shares of the company's stock, valued at approximately $5,611,000.
A number of other hedge funds have also recently made changes to their positions in GL. Hilton Head Capital Partners LLC bought a new stake in shares of Globe Life in the 4th quarter valued at about $30,000. Johnson Financial Group Inc. bought a new position in Globe Life during the 2nd quarter worth approximately $39,000. CYBER HORNET ETFs LLC bought a new position in Globe Life during the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc purchased a new position in Globe Life in the 2nd quarter worth approximately $31,000. Finally, Torren Management LLC purchased a new position in Globe Life in the 4th quarter worth approximately $37,000. 81.61% of the stock is currently owned by institutional investors.
Globe Life Price Performance
GL opened at $172.44 on Wednesday. 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 $13.25 billion, a price-to-earnings ratio of 11.45 and a beta of 0.48. The stock has a fifty day simple moving average of $178.54 and a two-hundred day simple moving average of $159.03. Globe Life Inc. has a 12-month low of $127.85 and a 12-month high of $191.55.
Globe Life (NYSE:GL - Get Free Report) last posted 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). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm earned $3.05 EPS. The company's revenue was up 8.0% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Research analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.
Globe Life declared that its board has initiated a share buyback program on Monday, August 10th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.
Globe Life Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a $0.33 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. Globe Life's payout ratio is presently 8.76%.
Insider Activity at Globe Life
In other news, CEO James Matthew Darden sold 50,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total value of $6,609,680.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 151,908 shares of company stock worth $27,239,981 in the last ninety days. 2.11% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on GL shares. JPMorgan Chase & Co. raised their target price 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. Wells Fargo & Company increased their price target 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. Keefe, Bruyette & Woods cut their price target on shares of Globe Life from $192.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, July 24th. Jefferies Financial Group boosted their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.67.
Check Out Our Latest Stock Report on Globe Life
Globe Life Profile
(
Free Report)
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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