Engineers Gate Manager LP Sells 17,557 Shares of Globe Life Inc. $GL

Engineers Gate Manager LP decreased its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 32.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,141 shares of the company's stock after selling 17,557 shares during the quarter. Engineers Gate Manager LP's holdings in Globe Life were worth $6,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in Globe Life by 17,904.1% during the second quarter. California State Teachers Retirement System now owns 16,289,720 shares of the company's stock worth $2,910,647,000 after acquiring an additional 16,199,242 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Globe Life in the second quarter valued at approximately $987,901,000. Pzena Investment Management LLC bought a new position in shares of Globe Life during the second quarter worth approximately $242,256,000. Norges Bank bought a new position in shares of Globe Life during the fourth quarter worth approximately $155,617,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Globe Life by 34,786.0% during the 4th 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. 81.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Globe Life from $192.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on Globe Life from $181.00 to $201.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Piper Sandler lifted their target price on Globe Life from $175.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. TD Cowen boosted their target price on shares of Globe Life from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley upped their price target on shares of Globe Life from $181.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and a consensus price target of $191.67.

Insider Activity

In other news, Director Cheryl Alston sold 8,258 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $179.24, for a total transaction of $1,480,163.92. Following the completion of the sale, the director owned 16,621 shares of the company's stock, valued at approximately $2,979,148.04. This represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Kalmbach sold 21,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer owned 50,568 shares in the company, valued at $9,105,274.08. This represents a 29.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 141,908 shares of company stock valued at $25,573,181. Corporate insiders own 2.11% of the company's stock.

Globe Life Price Performance

Globe Life stock opened at $171.09 on Friday. The stock's fifty day moving average price is $177.70 and its two-hundred day moving average price is $161.53. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market cap of $13.15 billion, a PE ratio of 11.36 and a beta of 0.46.

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

Globe Life Announces Dividend

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

Globe Life announced that its Board of Directors has authorized a share buyback plan on Monday, August 10th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 17.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Globe Life Company Profile

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company's principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.

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