California State Teachers Retirement System raised its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,167 shares of the company's stock after purchasing an additional 689 shares during the quarter. California State Teachers Retirement System owned 0.12% of Globe Life worth $16,289,720 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of GL. BlackRock Inc. bought a new position in shares of Globe Life in the 2nd quarter worth $987,901,000. Pzena Investment Management LLC bought a new stake in Globe Life during the 2nd quarter valued at about $242,256,000. Norges Bank acquired a new position in shares of Globe Life during the fourth quarter worth $155,617,000. Northwestern Mutual Wealth Management Co. boosted its position in Globe Life by 34,786.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company's stock worth $123,345,000 after purchasing an additional 879,391 shares in the last quarter. Finally, Equity Investment Corp acquired a new stake in Globe Life in the 2nd quarter valued at about $122,971,000. Institutional investors own 81.61% of the company's stock.
Insider Buying and Selling at Globe Life
In other news, CFO Thomas Kalmbach sold 21,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $180.06, for a total value of $3,781,260.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Majors sold 37,000 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the completion of the sale, the executive vice president directly owned 53,518 shares of the company's stock, valued at $9,560,455.52. This trade represents a 40.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 141,908 shares of company stock worth $25,573,181 over the last quarter. 2.11% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on GL. Weiss Ratings lowered Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, July 20th. Wells Fargo & Company increased their price target on Globe Life from $172.00 to $193.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. TD Cowen boosted their price objective on Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods reduced their target price on shares of Globe Life from $192.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, July 24th. Finally, Morgan Stanley lifted their target price on Globe Life from $181.00 to $208.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $191.67.
Check Out Our Latest Stock Report on GL
Globe Life Stock Performance
Shares of NYSE GL traded up $1.21 during trading on Tuesday, reaching $174.13. 118,384 shares of the company traded hands, compared to its average volume of 549,010. 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. The firm's fifty day simple moving average is $177.62 and its 200 day simple moving average is $161.88. The stock has a market cap of $13.38 billion, a P/E ratio of 11.56 and a beta of 0.46.
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). 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 analysts' expectations of $1.59 billion. During the same period last year, the firm earned $3.05 earnings per share. The firm's quarterly 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, research analysts anticipate that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.
Globe Life declared that its Board of Directors has authorized a share buyback plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Globe Life Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be issued 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 Company Profile
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Globe Life, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Globe Life wasn't on the list.
While Globe Life currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
