Norges Bank Invests $155.62 Million in Globe Life Inc. $GL

Key Points

• Norges Bank opened a new stake in Globe Life during the fourth quarter, buying 1,112,665 shares worth about $155.6 million and ending up with roughly 1.40% ownership.
• Analysts remain generally positive on the insurer: several firms raised price targets, and the stock’s consensus rating is Moderate Buy with an average target price of $174.11.
• Globe Life recently reported Q1 earnings of $3.43 per share, slightly below estimates, and also announced a quarterly dividend of $0.33 per share payable July 31.

Norges Bank acquired a new position in Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,112,665 shares of the company's stock, valued at approximately $155,617,000. Norges Bank owned approximately 1.40% of Globe Life as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Transcend Capital Advisors LLC lifted its position in shares of Globe Life by 3.9% in the fourth quarter. Transcend Capital Advisors LLC now owns 2,265 shares of the company's stock worth $317,000 after purchasing an additional 84 shares in the last quarter. Natural Investments LLC lifted its position in shares of Globe Life by 2.6% in the fourth quarter. Natural Investments LLC now owns 3,452 shares of the company's stock worth $482,000 after purchasing an additional 87 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its position in shares of Globe Life by 2.2% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 4,518 shares of the company's stock worth $646,000 after purchasing an additional 99 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of Globe Life by 1.9% in the third quarter. Clearstead Advisors LLC now owns 5,273 shares of the company's stock worth $754,000 after purchasing an additional 100 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Globe Life by 1.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 8,950 shares of the company's stock worth $1,252,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Analyst Ratings Changes

GL has been the topic of several analyst reports. Piper Sandler upped 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. Wells Fargo & Company upped their price target on shares of Globe Life from $171.00 to $172.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. Truist Financial upped their price target on shares of Globe Life from $180.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $180.00 to $181.00 and gave the stock an "overweight" rating in a research report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods reaffirmed a "moderate buy" rating and set a $168.00 price target on shares of Globe Life in a research report on Thursday, March 26th. 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $174.11.

Insider Activity at Globe Life

In other news, EVP Michael Clay Majors sold 34,000 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $153.81, for a total value of $5,229,540.00. Following the transaction, the executive vice president directly owned 53,518 shares of the company's stock, valued at $8,231,603.58. This represents a 38.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Peter Kalmbach sold 15,637 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $153.65, for a total transaction of $2,402,625.05. Following the completion of the transaction, the chief financial officer directly owned 45,335 shares in the company, valued at $6,965,722.75. The trade was a 25.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 105,929 shares of company stock valued at $16,382,450 over the last three months. Company insiders own 2.11% of the company's stock.

Globe Life Stock Performance

NYSE GL opened at $151.21 on Thursday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The firm's fifty day moving average price is $149.71 and its two-hundred day moving average price is $143.16. Globe Life Inc. has a 1 year low of $116.73 and a 1 year high of $157.92. The firm has a market capitalization of $11.74 billion, a P/E ratio of 10.46 and a beta of 0.49.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $3.46 by ($0.03). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. Globe Life's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.07 earnings per share. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, research analysts anticipate that Globe Life Inc. will post 15.62 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.32 annualized dividend and a dividend yield of 0.9%. Globe Life's dividend payout ratio is presently 9.13%.

Globe Life 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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