CIBC Asset Management Inc Purchases 7,186 Shares of Globe Life Inc. $GL

Key Points

• CIBC Asset Management increased its stake in Globe Life by 65.7% in the fourth quarter, buying 7,186 additional shares and bringing its total holdings to 18,126 shares worth about $2.54 million.
• Wall Street remains broadly positive on the insurer, with multiple firms raising price targets and the stock carrying a “Moderate Buy” consensus rating and an average target price of $174.11.
• Globe Life reported quarterly EPS of $3.43, slightly below estimates, while also announcing a quarterly dividend of $0.33 per share; meanwhile, company insiders have recently sold shares, including two CEO transactions.

CIBC Asset Management Inc lifted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 65.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,126 shares of the company's stock after purchasing an additional 7,186 shares during the period. CIBC Asset Management Inc's holdings in Globe Life were worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GL. Vanguard Group Inc. raised its position in Globe Life by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company's stock worth $1,411,311,000 after purchasing an additional 86,349 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Globe Life by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,076,232 shares of the company's stock valued at $296,841,000 after acquiring an additional 59,353 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Globe Life by 98.6% in the second quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company's stock valued at $174,340,000 after acquiring an additional 696,548 shares during the last quarter. Norges Bank bought a new stake in Globe Life in the fourth quarter valued at approximately $155,617,000. Finally, Pzena Investment Management LLC boosted its holdings in Globe Life by 5.6% in the third quarter. Pzena Investment Management LLC now owns 998,506 shares of the company's stock valued at $142,756,000 after acquiring an additional 52,523 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GL. Morgan Stanley upped their target price on Globe Life from $176.00 to $181.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Wells Fargo & Company upped their target price on Globe Life from $171.00 to $172.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Truist Financial upped their target price on Globe Life from $180.00 to $185.00 and gave the company a "buy" rating in a report on Friday, April 24th. Piper Sandler upped their target price on Globe Life from $167.00 to $175.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Finally, Evercore set a $157.00 target price on Globe Life in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $174.11.

Insider Transactions at Globe Life

In other news, CEO James Matthew Darden sold 4,663 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $153.88, for a total transaction of $717,542.44. Following the transaction, the chief executive officer directly owned 58,451 shares of the company's stock, valued at $8,994,439.88. This represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank M. Svoboda sold 20,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $156.68, for a total value of $3,133,600.00. Following the completion of the sale, the chief executive officer directly owned 54,020 shares of the company's stock, valued at $8,463,853.60. The trade was a 27.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,929 shares of company stock valued at $16,382,450 over the last ninety days. Company insiders own 2.11% of the company's stock.

Globe Life Price Performance

Shares of GL opened at $159.28 on Monday. Globe Life Inc. has a 52-week low of $116.73 and a 52-week high of $159.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07. The business's 50 day moving average price is $150.46 and its two-hundred day moving average price is $143.52. The firm has a market cap of $12.37 billion, a PE ratio of 11.02 and a beta of 0.49.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.46 by ($0.03). Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm posted $3.07 earnings per share. Globe Life's quarterly revenue was up 5.3% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. On average, equities analysts anticipate that Globe Life Inc. will post 15.62 EPS for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, July 6th. Globe Life's dividend payout ratio is presently 9.13%.

About Globe Life

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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