Commerce Bank Buys New Shares in Globe Life Inc. $GL

Key Points

• Commerce Bank purchased 11,113 Globe Life shares worth approximately $1.99 million during the second quarter, while institutional investors and hedge funds collectively own 81.61% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $191.67, compared with Globe Life’s opening price of $172.44.
• Globe Life reported quarterly revenue growth of 8% year over year, though earnings of $3.61 per share fell short of estimates. The company also approved a $2.5 billion share-repurchase plan and declared a quarterly dividend of $0.33 per share.

Commerce Bank purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,113 shares of the company's stock, valued at approximately $1,986,000.

A number of other large investors have also recently bought and sold shares of the business. CYBER HORNET ETFs LLC bought a new position in shares of Globe Life in the 2nd quarter worth about $28,000. Hilton Head Capital Partners LLC bought a new stake in shares of Globe Life during the 4th quarter valued at about $30,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life during the 2nd quarter valued at about $31,000. Torren Management LLC acquired a new stake in Globe Life during the fourth quarter worth approximately $37,000. Finally, Johnson Financial Group Inc. acquired a new stake in Globe Life during the second quarter worth approximately $39,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GL. Wells Fargo & Company increased their target price on shares of Globe Life from $172.00 to $193.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Morgan Stanley upped their price objective on shares of Globe Life from $181.00 to $208.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Jefferies Financial Group increased 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. Keefe, Bruyette & Woods decreased their target price on Globe Life from $192.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. Finally, TD Cowen boosted their target price on Globe Life from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. 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 stock. According to MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and a consensus price target of $191.67.

Insider Activity at Globe Life

In other Globe Life news, CFO Thomas Peter Kalmbach sold 21,000 shares of Globe Life stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $180.06, for a total transaction 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 10,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $166.68, for a total value of $1,666,800.00. Following the sale, the chief executive officer directly owned 54,020 shares of the company's stock, valued at $9,004,053.60. This represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 151,908 shares of company stock valued at $27,239,981 over the last quarter. 2.11% of the stock is currently owned by company insiders.

Globe Life Stock Performance

NYSE GL opened at $172.44 on Wednesday. The company has a fifty day simple moving average of $178.54 and a 200 day simple moving average of $159.03. 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 company has a market cap of $13.25 billion, a P/E ratio of 11.45 and a beta of 0.48.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing analysts' consensus estimates of $3.67 by ($0.06). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the firm posted $3.05 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Sell-side analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be given a dividend of $0.33 per share. 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 payout ratio is presently 8.76%.

Globe Life announced that its board has approved a share repurchase plan on Monday, August 10th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Globe Life 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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