Squarepoint Ops LLC Purchases 24,575 Shares of Globe Life Inc. $GL

Squarepoint Ops LLC increased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 79.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,676 shares of the company's stock after acquiring an additional 24,575 shares during the period. Squarepoint Ops LLC owned about 0.07% of Globe Life worth $9,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GL. California State Teachers Retirement System lifted its stake in Globe Life by 17,904.1% during the second quarter. California State Teachers Retirement System now owns 16,289,720 shares of the company's stock worth $2,910,647,000 after purchasing an additional 16,199,242 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Globe Life during the 2nd quarter worth $987,901,000. Invesco Ltd. raised its holdings in shares of Globe Life by 2.7% during the 4th quarter. Invesco Ltd. now owns 3,948,676 shares of the company's stock worth $552,262,000 after buying an additional 102,445 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Globe Life by 10.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company's stock worth $327,479,000 after buying an additional 217,331 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of 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 buying an additional 125,567 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Trading Up 0.7%

Shares of GL stock opened at $170.98 on Friday. The firm has a market capitalization of $13.14 billion, a P/E ratio of 11.35 and a beta of 0.46. Globe Life Inc. has a twelve month low of $127.85 and a twelve month high of $191.55. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. The stock's fifty day simple moving average is $177.89 and its 200 day simple moving average is $161.47.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.67 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.Globe Life's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, sell-side analysts predict that Globe Life Inc. will post 15.71 EPS for the current fiscal year.

Globe Life declared that its Board of Directors has approved a share repurchase program on Monday, August 10th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 17.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Globe Life's dividend payout ratio is currently 8.76%.

Insider Transactions at Globe Life

In other Globe Life news, CEO James Darden sold 50,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the sale, the chief executive officer directly owned 58,451 shares of the company's stock, valued at $10,663,215.93. The trade was a 46.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas Kalmbach sold 25,650 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $178.58, for a total transaction of $4,580,577.00. Following the completion of the transaction, the chief financial officer owned 50,568 shares of the company's stock, valued at approximately $9,030,433.44. This trade represents a 33.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 141,908 shares of company stock worth $25,573,181. 2.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley lifted their target price on Globe Life from $181.00 to $208.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Weiss Ratings cut shares of Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, July 20th. Wells Fargo & Company raised their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $181.00 to $201.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Finally, Piper Sandler lifted their price target on shares of Globe Life from $175.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.67.

Globe Life Company Profile

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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