Globe Life Inc. $GL Shares Purchased by Amundi

Key Points

• Amundi increased its Globe Life stake by 307.4% in the second quarter, acquiring 122,402 additional shares to hold 162,223 shares valued at approximately $29 million. Institutional investors collectively own 81.61% of the company.
• Analyst sentiment remains favorable, with Globe Life carrying a consensus “Moderate Buy” rating and an average price target of $191.67. However, company insiders sold 141,908 shares worth $25.6 million over the past 90 days.
• Globe Life reported quarterly revenue of $1.60 billion, up 8% year over year, but its $3.61 earnings per share missed estimates by $0.06. The company also announced a $2.5 billion share-repurchase plan, alongside a quarterly dividend of $0.33 per share.

Amundi raised its stake in Globe Life Inc. (NYSE:GL - Free Report) by 307.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 162,223 shares of the company's stock after buying an additional 122,402 shares during the quarter. Amundi owned approximately 0.21% of Globe Life worth $28,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GL. Hilton Head Capital Partners LLC acquired a new position in Globe Life during the 4th quarter valued at about $30,000. Johnson Financial Group Inc. acquired a new stake in shares of Globe Life in the second quarter valued at approximately $39,000. CYBER HORNET ETFs LLC bought a new stake in shares of Globe Life during the second quarter valued at approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life during the second quarter valued at approximately $31,000. Finally, AdvisorNet Financial Inc boosted its position in shares of 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. Institutional investors and hedge funds own 81.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GL. Jefferies Financial Group increased their price objective on Globe Life from $147.00 to $166.00 and gave the stock a "hold" rating in a report on Friday, July 10th. Weiss Ratings lowered Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, July 20th. TD Cowen increased their price target on Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their price target on Globe Life from $192.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, July 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Globe Life from $172.00 to $193.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Globe Life currently has a consensus rating of "Moderate Buy" and an average price target of $191.67.

Insiders Place Their Bets

In other Globe Life news, CEO James Darden sold 50,000 shares of the company's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $182.43, for a total value of $9,121,500.00. Following the transaction, the chief executive officer directly owned 58,451 shares of the company's stock, valued at $10,663,215.93. This represents a 46.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Majors sold 37,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was 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 owned 53,518 shares in the company, valued at $9,560,455.52. This represents a 40.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 141,908 shares of company stock worth $25,573,181. Insiders own 2.11% of the company's stock.

Globe Life Stock Performance

GL opened at $171.09 on Friday. The business has a 50 day moving average price of $177.70 and a two-hundred day moving average price of $161.53. 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 company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 11.36 and a beta of 0.46. Globe Life Inc. has a 1-year low of $127.85 and a 1-year high of $191.55.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($0.06). The business 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 for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Research analysts predict that Globe Life Inc. will post 15.71 EPS 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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life's payout ratio is 8.76%.

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

About Globe Life

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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