E. Ohman J or Asset Management AB Makes New $2.46 Million Investment in Globe Life Inc. $GL

Key Points

• E. Ohman J or Asset Management AB initiated a new position in Globe Life, buying 17,659 shares worth about $2.46 million in the first quarter.
• Insider selling has been notable, with the CFO and CEO both selling shares recently; insiders sold 115,929 shares worth about $18.0 million over the last 90 days.
• Analysts remain generally positive on GL, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target of $174.11.

E. Ohman J or Asset Management AB purchased a new stake in Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,659 shares of the company's stock, valued at approximately $2,458,000.

Several other large investors also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Globe Life in the 4th quarter worth approximately $155,617,000. Northwestern Mutual Wealth Management Co. lifted its stake 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 valued at $123,345,000 after purchasing an additional 879,391 shares during the last quarter. AQR Capital Management LLC lifted its stake in Globe Life by 98.6% during the second quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company's stock valued at $174,340,000 after purchasing an additional 696,548 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Globe Life during the third quarter worth approximately $80,925,000. Finally, Westfield Capital Management Co. LP bought a new stake in Globe Life during the third quarter worth approximately $61,569,000. Institutional investors own 81.61% of the company's stock.

Insider Activity

In other news, CFO Thomas Peter Kalmbach sold 7,936 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $156.59, for a total value of $1,242,698.24. Following the completion of the sale, the chief financial officer owned 50,496 shares of the company's stock, valued at $7,907,168.64. This trade represents a 13.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Matthew Darden sold 4,663 shares of Globe Life stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $153.88, for a total value of $717,542.44. Following the transaction, the chief executive officer owned 58,451 shares in the company, valued at $8,994,439.88. This represents a 7.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 115,929 shares of company stock valued at $18,049,250 in the last 90 days. Company insiders own 2.11% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GL shares. Piper Sandler lifted their price target on shares of Globe Life from $167.00 to $175.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Texas Capital upgraded Globe Life to a "strong-buy" rating in a research report on Wednesday, March 18th. Wells Fargo & Company raised their price objective on Globe Life from $171.00 to $172.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Weiss Ratings upgraded Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. Finally, Morgan Stanley boosted their target price on Globe Life from $176.00 to $181.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and an average price target of $174.11.

Globe Life Stock Performance

Shares of GL opened at $171.05 on Monday. The company has a 50-day moving average of $155.49 and a two-hundred day moving average of $145.85. The stock has a market cap of $13.28 billion, a price-to-earnings ratio of 11.83 and a beta of 0.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life Inc. has a one year low of $116.73 and a one year high of $172.74.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.46 by ($0.03). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The firm's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.07 EPS. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. On average, equities research analysts expect that Globe Life Inc. will post 15.64 earnings per share for the current year.

Globe Life Announces Dividend

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

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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