Wealthfront Advisers LLC Invests $8.64 Million in Globe Life Inc. $GL

Key Points

• Wealthfront Advisers purchased 48,352 shares of Globe Life worth approximately $8.64 million, while institutional investors collectively own 81.61% of the company.
• Globe Life insiders sold 179,844 shares worth $31.6 million during the latest quarter, including significant sales by the CEO and CFO.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $191.67. The company also authorized a $2.5 billion share buyback and declared a quarterly dividend of $0.33 per share.

Wealthfront Advisers LLC bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,352 shares of the company's stock, valued at approximately $8,640,000. Wealthfront Advisers LLC owned approximately 0.06% of Globe Life at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Jupiter Asset Management Ltd. acquired a new stake in shares of Globe Life during the fourth quarter worth about $2,073,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Globe Life by 34,786.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company's stock valued at $123,345,000 after purchasing an additional 879,391 shares during the period. Strs Ohio boosted its position in shares of Globe Life by 213.7% in the 4th quarter. Strs Ohio now owns 21,907 shares of the company's stock valued at $3,064,000 after purchasing an additional 14,924 shares during the period. Vanguard Group Inc. grew its stake 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 buying an additional 86,349 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Globe Life by 23.1% during the 4th quarter. Handelsbanken Fonder AB now owns 75,235 shares of the company's stock worth $10,522,000 after buying an additional 14,135 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In other news, CEO James Matthew Darden sold 50,000 shares of the firm's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $182.43, for a total value of $9,121,500.00. Following the completion of the sale, the chief executive officer owned 58,451 shares in the company, valued at approximately $10,663,215.93. This trade represents a 46.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 25,650 shares of Globe Life stock in a transaction dated 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 sale, the chief financial officer directly owned 50,568 shares in the company, valued at approximately $9,030,433.44. The trade was a 33.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 179,844 shares of company stock worth $31,616,279 over the last quarter. 2.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial boosted their price objective on Globe Life from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Piper Sandler raised their target price on shares of Globe Life from $175.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Jefferies Financial Group lifted their target price on shares of Globe Life from $147.00 to $166.00 and gave the company a "hold" rating in a report on Friday, July 10th. Weiss Ratings downgraded shares of Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, July 20th. Finally, Morgan Stanley increased their price target on shares of Globe Life from $181.00 to $208.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $191.67.

Globe Life Stock Down 3.6%

GL opened at $171.74 on Thursday. Globe Life Inc. has a 52 week low of $127.85 and a 52 week high of $191.55. The business has a 50 day moving average price of $178.16 and a two-hundred day moving average price of $158.21. 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 company has a market cap of $13.20 billion, a PE ratio of 11.40 and a beta of 0.48.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, research analysts anticipate that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life announced that its Board of Directors has authorized a share buyback plan on Monday, August 10th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 17.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management 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. Investors of record on Monday, October 5th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, October 5th. Globe Life's dividend payout ratio (DPR) is 8.76%.

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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