California State Teachers Retirement System Purchases 16,199,242 Shares of Globe Life Inc. $GL

Key Points

• California State Teachers Retirement System dramatically increased its Globe Life stake by purchasing 16.2 million shares in the second quarter, bringing its holdings to 16.29 million shares, or approximately 21.2% of the company. Institutional investors collectively own 81.61% of Globe Life.
• Globe Life reported quarterly revenue of $1.60 billion, up 8% year over year, though earnings of $3.61 per share fell short of analyst estimates. The company declared a $0.33 quarterly dividend and authorized a $2.5 billion stock buyback covering up to 17.7% of outstanding shares.
• Analysts maintain a generally positive outlook, with Globe Life receiving a “Moderate Buy” consensus rating and an average price target of $191.67. However, company insiders, including the CEO and CFO, sold shares recently, with insiders selling 141,908 shares worth $25.6 million over 90 days.

California State Teachers Retirement System raised its position in Globe Life Inc. (NYSE:GL - Free Report) by 17,904.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,289,720 shares of the company's stock after acquiring an additional 16,199,242 shares during the quarter. California State Teachers Retirement System owned approximately 21.20% of Globe Life worth $2,910,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new stake in shares of Globe Life in the second quarter worth about $28,000. Hilton Head Capital Partners LLC bought a new position in Globe Life during the 4th quarter valued at approximately $30,000. MUFG Securities EMEA plc purchased a new stake in Globe Life in the 2nd quarter worth approximately $31,000. Johnson Financial Group Inc. purchased a new stake in Globe Life in the 2nd quarter worth approximately $39,000. Finally, AdvisorNet Financial Inc grew its position in shares of Globe Life by 41.1% in the 1st quarter. AdvisorNet Financial Inc now owns 316 shares of the company's stock worth $44,000 after buying an additional 92 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

Shares of GL opened at $170.98 on Friday. The company has a 50-day simple moving average of $177.89 and a two-hundred day simple moving average of $161.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $13.14 billion, a PE ratio of 11.35 and a beta of 0.46. 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 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 analysts' expectations of $1.59 billion. During the same quarter last year, the company posted $3.05 EPS. The firm'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. On average, analysts anticipate that Globe Life Inc. will post 15.71 EPS for the current fiscal year.

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 given a dividend of $0.33 per share. The ex-dividend date is Monday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Globe Life's payout ratio is currently 8.76%.

Globe Life declared that its Board of Directors has initiated a stock buyback program on Monday, August 10th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to repurchase 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 shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Globe Life from $181.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Piper Sandler raised their price target on Globe Life from $175.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price target 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. Weiss Ratings cut shares of Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, July 20th. Finally, Wells Fargo & Company boosted 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. One 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. Based on data from MarketBeat.com, Globe Life currently has an average rating of "Moderate Buy" and a consensus price target of $191.67.

Insider Transactions at Globe Life

In other Globe Life news, CEO James Darden sold 50,000 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 58,451 shares of the company's stock, valued at approximately $10,663,215.93. This trade represents a 46.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas Kalmbach sold 21,000 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $180.06, for a total value of $3,781,260.00. Following the transaction, the chief financial officer directly owned 50,568 shares of the company's stock, valued at $9,105,274.08. This represents a 29.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 141,908 shares of company stock valued at $25,573,181. Company insiders own 2.11% of the company's stock.

About Globe Life

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company's principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.

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