Connor Clark & Lunn Investment Management Ltd. Takes $1.16 Million Position in Globe Life Inc. $GL

Key Points

• Connor Clark & Lunn Investment Management acquired 6,462 Globe Life shares worth approximately $1.16 million, while institutional investors overall own 81.61% of the company.
• Globe Life insiders sold 151,908 shares valued at about $27.2 million over the past three months, including sizable sales by the CFO and CEO.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $191.67. The company also authorized a $2.5 billion share-repurchase program and reported 8% year-over-year revenue growth despite slightly missing quarterly EPS estimates.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,462 shares of the company's stock, valued at approximately $1,155,000.

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

Insider Activity at Globe Life

In related news, CFO Thomas Peter Kalmbach sold 25,650 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $178.58, for a total value of $4,580,577.00. Following the sale, the chief financial officer owned 50,568 shares of the company's stock, valued at approximately $9,030,433.44. This trade represents a 33.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 10,000 shares of the business's 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 transaction, the chief executive officer owned 54,020 shares of the company's stock, valued at $9,004,053.60. This represents a 15.62% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 151,908 shares of company stock valued at $27,239,981. 2.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods cut their target price on shares of Globe Life from $192.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $181.00 to $201.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. TD Cowen increased their price target on Globe Life from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Piper Sandler raised their price objective 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, Wells Fargo & Company raised their price objective on Globe Life from $172.00 to $193.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. One equities 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $191.67.

Globe Life Stock Performance

Shares of GL stock opened at $173.41 on Monday. The stock has a market capitalization of $13.33 billion, a price-to-earnings ratio of 11.51 and a beta of 0.48. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55. The company's 50-day simple moving average is $178.77 and its 200-day simple moving average is $159.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($0.06). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the company posted $3.05 earnings per share. The business'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. Equities 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 initiated a stock repurchase plan on Monday, August 10th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to buy up to 17.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, October 5th. Globe Life's payout ratio 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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