Picton Mahoney Asset Management Makes New $8.89 Million Investment in Globe Life Inc. $GL

Key Points

• Picton Mahoney bought a new stake of 62,193 shares in Globe Life (NYSE:GL) during the third quarter, valued at about $8.89 million (approximately 0.08% ownership).
• Institutional ownership stands at 81.61%, with large moves from Invesco, Geode and AQR increasing positions and Norges Bank initiating a roughly $157.7 million position, indicating strong institutional interest.
• Corporate insiders have been net sellers—CEO Frank Svoboda sold 12,500 shares and insiders sold 92,186 shares over the past 90 days—while Globe Life raised its quarterly dividend from $0.27 to $0.33 per share (annualized $1.32, yield ~0.9%).

Picton Mahoney Asset Management bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 62,193 shares of the company's stock, valued at approximately $8,890,000. Picton Mahoney Asset Management owned 0.08% of Globe Life as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of GL. Invesco Ltd. raised its holdings in Globe Life by 3.9% in the 2nd quarter. Invesco Ltd. now owns 3,921,439 shares of the company's stock valued at $487,396,000 after acquiring an additional 147,644 shares during the period. Geode Capital Management LLC grew its position in shares of Globe Life by 2.9% in the second quarter. Geode Capital Management LLC now owns 2,722,768 shares of the company's stock valued at $339,875,000 after purchasing an additional 76,995 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Globe Life by 98.6% in the second quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company's stock valued at $174,340,000 after purchasing an additional 696,548 shares during the last quarter. Norges Bank bought a new position in shares of Globe Life during the second quarter worth approximately $157,722,000. Finally, Bank of New York Mellon Corp lifted its holdings in Globe Life by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,248,025 shares of the company's stock worth $155,117,000 after purchasing an additional 43,095 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on GL shares. Evercore set a $157.00 price objective on Globe Life in a report on Wednesday, February 18th. TD Cowen restated a "buy" rating on shares of Globe Life in a research note on Thursday, December 11th. Truist Financial raised their price target on shares of Globe Life from $158.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 6th. Morgan Stanley reiterated an "overweight" rating and issued a $176.00 price objective on shares of Globe Life in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. increased their target price 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. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus price target of $171.33.

Insider Activity

In other Globe Life news, EVP Robert Edward Hensley sold 712 shares of Globe Life stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $142.59, for a total value of $101,524.08. Following the transaction, the executive vice president owned 8,580 shares in the company, valued at $1,223,422.20. The trade was a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frank M. Svoboda sold 12,500 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $144.78, for a total value of $1,809,750.00. Following the transaction, the chief executive officer directly owned 35,868 shares of the company's stock, valued at approximately $5,192,969.04. The trade was a 25.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 92,186 shares of company stock valued at $13,358,379. Corporate insiders own 1.51% of the company's stock.

Globe Life Stock Up 0.1%

GL stock opened at $144.89 on Thursday. Globe Life Inc. has a 52 week low of $109.38 and a 52 week high of $152.71. The business has a 50-day simple moving average of $142.03 and a 200 day simple moving average of $138.89. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.39. The company has a market cap of $11.39 billion, a PE ratio of 10.29 and a beta of 0.46.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $3.39 EPS for the quarter, missing the consensus estimate of $3.44 by ($0.05). The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Globe Life had a net margin of 19.37% and a return on equity of 21.30%. Globe Life's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.14 earnings per share. Globe Life has set its FY 2026 guidance at 14.950-15.650 EPS. Sell-side analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 3rd will be given a dividend of $0.33 per share. This is an increase from Globe Life's previous quarterly dividend of $0.27. This represents a $1.32 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, April 2nd. Globe Life's dividend payout ratio (DPR) is presently 7.67%.

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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