Braun Stacey Associates Inc. Makes New $10.09 Million Investment in Globe Life Inc. $GL

Key Points

• Braun Stacey Associates acquired 56,462 Globe Life shares worth approximately $10.09 million, joining other institutional investors; institutions now own 81.61% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $191.67, versus a recent share price of $173.41.
• Globe Life authorized a $2.5 billion stock buyback, covering up to 17.7% of outstanding shares, and declared a quarterly dividend of $0.33 per share. The company’s latest quarterly revenue rose 8% year over year, though EPS slightly missed estimates.

Braun Stacey Associates Inc. bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,462 shares of the company's stock, valued at approximately $10,089,000. Braun Stacey Associates Inc. owned about 0.07% of Globe Life as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GL. Hsbc Holdings PLC increased its stake in shares of Globe Life by 12.9% during the 2nd quarter. Hsbc Holdings PLC now owns 131,212 shares of the company's stock worth $23,519,000 after purchasing an additional 14,956 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new position in Globe Life in the second quarter valued at approximately $223,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Globe Life in the second quarter valued at approximately $8,541,000. Empowered Funds LLC bought a new position in Globe Life during the second quarter valued at $4,134,000. Finally, United Capital Financial Advisors LLC bought a new position in Globe Life during the second quarter valued at $872,000. 81.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GL shares. Jefferies Financial Group raised their target price on Globe Life from $147.00 to $166.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Weiss Ratings downgraded Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, July 20th. Morgan Stanley lifted their price objective on Globe Life from $181.00 to $208.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Keefe, Bruyette & Woods lowered their price objective on Globe Life from $192.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Globe Life from $181.00 to $201.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. One research 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 company. Based on data from MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and an average price target of $191.67.

Globe Life Price Performance

GL stock opened at $173.41 on Friday. The firm has a 50 day moving average of $178.77 and a 200-day moving average of $159.53. The firm has a market capitalization of $13.33 billion, a P/E ratio of 11.51 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 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 (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 analysts' consensus estimates of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the company posted $3.05 EPS. The business'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. As a group, sell-side analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Globe Life's dividend payout ratio is presently 8.76%.

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

Insider Transactions at Globe Life

In related news, Director Cheryl Alston sold 8,258 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $179.24, for a total value of $1,480,163.92. Following the sale, the director owned 16,621 shares in the company, valued at approximately $2,979,148.04. This trade represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James Matthew Darden sold 50,000 shares of Globe Life stock in a transaction on Friday, July 31st. The shares were sold at an average price of $182.43, for a total value of $9,121,500.00. Following the sale, the chief executive officer directly owned 58,451 shares of the company's stock, valued at $10,663,215.93. This represents a 46.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 151,908 shares of company stock valued at $27,239,981. Corporate insiders own 2.11% of the company's stock.

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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