Magnetar Financial LLC Lowers Stake in Globe Life Inc. $GL

Key Points

• Magnetar Financial LLC cut its stake in Globe Life by 18.7% in the fourth quarter, selling 7,562 shares and leaving it with 32,873 shares valued at about $4.6 million.
• Globe Life reported quarterly EPS of $3.43, slightly below expectations of $3.46, while revenue came in at $1.56 billion and rose 5.3% year over year.
• The company’s stock has been near its 52-week high, and analysts remain broadly positive with a Moderate Buy consensus and an average target price of $174.11.

Magnetar Financial LLC reduced its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 18.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 32,873 shares of the company's stock after selling 7,562 shares during the period. Magnetar Financial LLC's holdings in Globe Life were worth $4,598,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Globe Life by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company's stock worth $1,411,311,000 after purchasing an additional 86,349 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Globe Life by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,135,861 shares of the company's stock worth $298,732,000 after purchasing an additional 59,629 shares during the last quarter. Morgan Stanley lifted its stake in shares of Globe Life by 7.2% in 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 during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Globe Life by 32.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,435,247 shares of the company's stock worth $200,734,000 after acquiring an additional 355,399 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Globe Life by 98.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company's stock worth $174,340,000 after acquiring an additional 696,548 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 1.0%

Shares of NYSE GL opened at $169.07 on Wednesday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.38. Globe Life Inc. has a 52 week low of $116.73 and a 52 week high of $170.11. The firm has a 50-day moving average price of $153.91 and a 200 day moving average price of $145.06. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 11.69 and a beta of 0.49.

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

Globe Life Dividend Announcement

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

Insider Activity at Globe Life

In related news, CFO Thomas Peter Kalmbach sold 7,936 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were 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 in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank M. Svoboda sold 10,000 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the completion of the sale, the chief executive officer owned 54,020 shares of the company's stock, valued at $9,004,053.60. This trade represents a 15.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,929 shares of company stock worth $18,049,250 over the last three months. 2.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated a "moderate buy" rating and issued a $168.00 target price on shares of Globe Life in a research note on Thursday, March 26th. Morgan Stanley raised their target price on shares of Globe Life from $176.00 to $181.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Texas Capital upgraded shares of Globe Life to a "strong-buy" rating in a research note on Wednesday, March 18th. Weiss Ratings upgraded shares of Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company raised their target price on shares of Globe Life from $171.00 to $172.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. One equities research 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. According to MarketBeat.com, Globe Life currently has an average rating of "Moderate Buy" and an average target price of $174.11.

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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