Carmignac Gestion Sells 62,900 Shares of Globe Life Inc. $GL

Key Points

• Carmignac Gestion cut its Globe Life stake by 37% in the second quarter, selling 62,900 shares and retaining 107,100 shares valued at approximately $19.1 million. Institutional investors collectively own 81.61% of the company.
• Analysts maintain a positive outlook, with Globe Life holding a consensus “Moderate Buy” rating and an average price target of $191.67, above its reported trading price of $170.52.
• Globe Life authorized a $2.5 billion share-repurchase program covering up to 17.7% of outstanding shares and declared a quarterly dividend of $0.33 per share, while its latest quarterly EPS slightly missed estimates.

Carmignac Gestion decreased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 37.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,100 shares of the company's stock after selling 62,900 shares during the period. Carmignac Gestion owned about 0.14% of Globe Life worth $19,137,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in Globe Life by 17,904.1% during the 2nd quarter. California State Teachers Retirement System now owns 16,289,720 shares of the company's stock valued at $2,910,647,000 after acquiring an additional 16,199,242 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Globe Life in the 2nd quarter worth $987,901,000. Pzena Investment Management LLC purchased a new stake in shares of Globe Life in the second quarter valued at about $242,256,000. Norges Bank purchased a new stake in shares of Globe Life in the fourth quarter valued at about $155,617,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Globe Life by 34,786.0% during the fourth 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 during the last quarter. Institutional investors own 81.61% of the company's stock.

Insider Buying and Selling

In related news, CEO Frank Svoboda sold 10,000 shares of Globe Life stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $166.68, for a total value of $1,666,800.00. Following the sale, the chief executive officer owned 54,020 shares of the company's stock, valued at approximately $9,004,053.60. The trade was a 15.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Kalmbach sold 21,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 50,568 shares in the company, valued at approximately $9,105,274.08. The trade was a 29.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 151,908 shares of company stock worth $27,239,981 in the last three months. Insiders own 2.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Globe Life from $147.00 to $166.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Wells Fargo & Company boosted their target price on Globe Life from $172.00 to $193.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods reduced their target price on Globe Life from $192.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, July 24th. Piper Sandler increased their price target on Globe Life from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley lifted their price target on Globe Life from $181.00 to $208.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. One investment 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 data from MarketBeat.com, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.67.

Globe Life Stock Performance

GL traded down $3.75 during trading on Tuesday, hitting $170.52. 370,883 shares of the company traded hands, compared to its average volume of 556,458. The firm has a market cap of $13.10 billion, a P/E ratio of 11.32 and a beta of 0.46. The stock's fifty day moving average is $178.45 and its 200 day moving average is $160.91. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. 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 quarterly earnings data 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). The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, equities analysts predict that Globe Life Inc. will post 15.71 EPS for the current fiscal year.

Globe Life announced that its Board of Directors has authorized a stock repurchase program on Monday, August 10th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to reacquire up to 17.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be paid 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 dividend payout ratio (DPR) is presently 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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