QRG Capital Management Inc. Makes New Investment in Globe Life Inc. $GL

QRG Capital Management Inc. purchased a new stake in shares of Globe Life Inc. (NYSE:GL) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,677 shares of the company’s stock, valued at approximately $929,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GL. SG Americas Securities LLC lifted its holdings in shares of Globe Life by 909.6% during the fourth quarter. SG Americas Securities LLC now owns 99,746 shares of the company’s stock worth $13,950,000 after purchasing an additional 89,866 shares during the period. Tudor Investment Corp ET AL acquired a new position in Globe Life in the 3rd quarter worth approximately $7,348,000. JPMorgan Chase & Co. raised its position in Globe Life by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 247,947 shares of the company’s stock worth $35,449,000 after buying an additional 24,785 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in Globe Life during the 3rd quarter worth approximately $5,862,000. Finally, Magnetar Financial LLC lifted its stake in Globe Life by 2,185.8% during the 3rd quarter. Magnetar Financial LLC now owns 40,435 shares of the company’s stock valued at $5,781,000 after acquiring an additional 38,666 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of NYSE GL opened at $176.89 on Thursday. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 12.23 and a beta of 0.47. Globe Life Inc. has a 12 month low of $116.73 and a 12 month high of $182.32. The firm’s 50 day simple moving average is $162.65 and its 200-day simple moving average is $149.70. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.07 and a quick ratio of 0.07.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $1.56 billion. During the same quarter in the prior year, the firm earned $3.07 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. Analysts expect that Globe Life Inc. will post 15.64 EPS for the current year.

Globe Life Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GL shares. Texas Capital upgraded shares of Globe Life to a “strong-buy” rating in a research note on Wednesday, March 18th. Piper Sandler boosted their target price on shares of Globe Life from $167.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, May 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. Morgan Stanley increased their price target on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price objective on Globe Life from $171.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. One investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.89.

Insiders Place Their Bets

In other news, 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 sale, the chief financial officer directly owned 45,335 shares of the company’s stock, valued at $6,965,722.75. This represents a 25.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Matthew Darden sold 4,663 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $153.88, for a total value of $717,542.44. Following the sale, the chief executive officer owned 58,451 shares in the company, valued at $8,994,439.88. This trade represents a 7.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 124,187 shares of company stock valued at $19,529,414. Insiders own 2.11% of the company’s stock.

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.