QRG Capital Management Inc. Purchases New Position in Globe Life Inc. $GL

Key Points

• QRG Capital Management opened a new position in Globe Life during the first quarter, buying 6,677 shares worth about $929,000.
• Several institutional investors continue to hold large stakes in the insurer, and about 81.61% of the stock is owned by institutions. Meanwhile, company insiders have been selling shares, including the CEO and CFO.
• Analysts remain mostly positive on Globe Life, with a Moderate Buy consensus and an average price target of $178.89. The stock recently traded near its 52-week high, and the company also announced a quarterly dividend of $0.33 per share.

QRG Capital Management Inc. acquired a new position in Globe Life Inc. (NYSE:GL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,677 shares of the company's stock, valued at approximately $929,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Globe Life by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company's stock valued at $1,411,311,000 after buying an additional 86,349 shares during the period. Invesco Ltd. lifted its stake in Globe Life by 2.7% in the fourth quarter. Invesco Ltd. now owns 3,948,676 shares of the company's stock worth $552,262,000 after acquiring an additional 102,445 shares during the period. Dimensional Fund Advisors LP lifted its stake in Globe Life by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,135,861 shares of the company's stock worth $298,732,000 after acquiring an additional 59,629 shares during the period. Morgan Stanley grew its holdings in 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. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Globe Life by 32.9% during 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 in the last quarter. 81.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO James Matthew Darden sold 4,663 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $153.88, for a total value of $717,542.44. Following the completion of the sale, the chief executive officer owned 58,451 shares of the company's stock, valued at $8,994,439.88. This trade represents a 7.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 15,637 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $153.65, for a total value of $2,402,625.05. Following the transaction, the chief financial officer owned 45,335 shares in the company, valued at approximately $6,965,722.75. This trade represents a 25.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 124,187 shares of company stock valued at $19,529,414. 2.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GL has been the subject of several recent research reports. Piper Sandler boosted their price target on shares of Globe Life from $167.00 to $175.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods reiterated a "moderate buy" rating and set a $168.00 price objective on shares of Globe Life in a research note on Thursday, March 26th. Weiss Ratings raised shares of Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. TD Cowen boosted their price objective on shares of Globe Life from $199.00 to $215.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Finally, Truist Financial upped their target price on Globe Life from $180.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, April 24th. 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.89.

Globe Life Stock Performance

Shares of Globe Life stock opened at $176.89 on Thursday. The company has a market capitalization of $13.73 billion, a PE ratio of 12.23 and a beta of 0.47. The company has a 50-day simple moving average of $162.65 and a two-hundred day simple moving average of $149.70. Globe Life Inc. has a one year low of $116.73 and a one year high of $182.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07.

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

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, July 6th. Globe Life's dividend payout ratio (DPR) is 9.13%.

About Globe Life

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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