BlackRock Inc. Purchases New Position in Globe Life Inc. $GL

Key Points

• BlackRock acquired 5.53 million Globe Life shares worth approximately $987.9 million, giving it a 7.12% stake; institutional investors now own 81.61% of the company.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and a $191.67 price target. Globe Life also authorized a $2.5 billion share repurchase program, covering up to 17.7% of outstanding shares.
• Globe Life’s latest quarterly revenue rose 8% year over year to $1.60 billion, though earnings of $3.61 per share narrowly missed estimates; insiders sold approximately $27.2 million of stock over the past 90 days.

BlackRock Inc. purchased a new position in Globe Life Inc. (NYSE:GL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,528,883 shares of the company's stock, valued at approximately $987,901,000. BlackRock Inc. owned approximately 7.12% of Globe Life at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC purchased a new position in shares of Globe Life during the second quarter valued at approximately $28,000. Hilton Head Capital Partners LLC purchased a new stake in Globe Life in the fourth quarter worth $30,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life during the second quarter worth $31,000. Torren Management LLC purchased a new stake in shares of Globe Life during the fourth quarter valued at $37,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of Globe Life by 41.1% during the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company's stock valued at $44,000 after purchasing an additional 92 shares during the period. 81.61% of the stock is owned by institutional investors.

Insider Transactions at Globe Life

In other Globe Life news, Director Cheryl Alston sold 8,258 shares of the 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 transaction, the director directly owned 16,621 shares of the company's stock, valued at $2,979,148.04. This trade represents a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Clay Majors sold 37,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 53,518 shares of the company's stock, valued at approximately $9,560,455.52. This trade represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 151,908 shares of company stock worth $27,239,981 in the last ninety days. Company insiders own 2.11% of the company's stock.

Analyst Ratings Changes

GL has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Globe Life from $172.00 to $193.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Piper Sandler upped their target price on Globe Life from $175.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Weiss Ratings cut Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, July 20th. TD Cowen lifted their price target on Globe Life from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Globe Life from $181.00 to $201.00 and gave the company 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $191.67.

Globe Life Trading Up 0.3%

Shares of NYSE:GL opened at $171.07 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. Globe Life Inc. has a 12-month low of $127.85 and a 12-month high of $191.55. The business has a 50 day moving average of $178.36 and a two-hundred day moving average of $158.52. The company has a market capitalization of $13.15 billion, a PE ratio of 11.36 and a beta of 0.48.

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

Globe Life announced that its Board of Directors has initiated a stock 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 reacquire up to 17.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Globe Life Dividend Announcement

The business 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 of this dividend is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. Globe Life's dividend payout ratio (DPR) is currently 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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