Equity Investment Corp purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 688,216 shares of the company's stock, valued at approximately $122,971,000. Globe Life makes up approximately 2.3% of Equity Investment Corp's portfolio, making the stock its 18th largest holding. Equity Investment Corp owned about 0.90% of Globe Life at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Globe Life by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company's stock valued at $1,411,311,000 after purchasing an additional 86,349 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Globe Life in the second quarter valued at $987,901,000. Invesco Ltd. lifted its holdings in Globe Life by 2.7% in the 4th quarter. Invesco Ltd. now owns 3,948,676 shares of the company's stock valued at $552,262,000 after acquiring an additional 102,445 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Globe Life by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company's stock valued at $327,479,000 after purchasing an additional 217,331 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Globe Life by 7.2% during the 4th quarter. Morgan Stanley now owns 1,860,257 shares of the company's stock worth $260,176,000 after acquiring an additional 125,567 shares in the last quarter. Institutional investors own 81.61% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Globe Life from $172.00 to $193.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Truist Financial upped their target price on Globe Life from $180.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. TD Cowen upped their price objective on shares of Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Morgan Stanley lifted their price target on shares of Globe Life from $181.00 to $208.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods cut their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and a consensus price target of $191.67.
Get Our Latest Report on Globe Life
Insiders Place Their Bets
In other news, Director Cheryl Alston sold 8,258 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $179.24, for a total value of $1,480,163.92. Following the completion of the transaction, the director owned 16,621 shares in the company, valued at $2,979,148.04. This trade represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Clay Majors sold 37,000 shares of Globe Life stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total value of $6,609,680.00. Following the completion of the transaction, the executive vice president directly owned 53,518 shares of the company's stock, valued at $9,560,455.52. This represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 179,844 shares of company stock worth $31,616,279 in the last three months. 2.11% of the stock is owned by corporate insiders.
Globe Life Stock Down 0.7%
Shares of NYSE GL opened at $178.10 on Wednesday. Globe Life Inc. has a 12-month low of $127.85 and a 12-month high of $191.55. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. The firm's 50-day simple moving average is $177.99 and its 200 day simple moving average is $157.99. The company has a market cap of $13.69 billion, a price-to-earnings ratio of 11.83 and a beta of 0.48.
Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 20.52% and a net margin of 19.58%.The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the business earned $3.05 earnings per share. Globe Life'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. On average, research analysts expect that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.
Globe Life Announces Dividend
The firm 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 0.7%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life's payout ratio is presently 8.76%.
Globe Life announced that its board has authorized a share repurchase plan on Monday, August 10th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 17.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.
About Globe Life
(
Free Report)
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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