VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Holdings in Globe Life Inc. $GL

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Globe Life Inc. (NYSE:GL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,600 shares of the company’s stock, valued at approximately $4,574,000.

A number of other institutional investors have also modified their holdings of GL. California State Teachers Retirement System boosted its stake in shares of Globe Life by 17,904.1% in 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 buying an additional 16,199,242 shares during the last quarter. BlackRock Inc. purchased a new position in Globe Life during the second quarter valued at approximately $987,901,000. Invesco Ltd. lifted its holdings in Globe Life by 2.7% in the fourth quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock valued at $552,262,000 after acquiring an additional 102,445 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Globe Life by 10.2% during the first 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 in the last quarter. Finally, Morgan Stanley boosted its stake 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 acquiring an additional 125,567 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In related news, CFO Thomas Kalmbach sold 21,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $180.06, for a total transaction of $3,781,260.00. Following the completion of the sale, the chief financial officer owned 50,568 shares in the company, valued at $9,105,274.08. The trade was a 29.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank Svoboda sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the sale, the chief executive officer owned 54,020 shares of the company’s stock, valued at $9,004,053.60. This represents a 15.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 151,908 shares of company stock worth $27,239,981. 2.11% of the stock is currently owned by corporate insiders.

Globe Life Stock Performance

NYSE:GL opened at $169.93 on Thursday. Globe Life Inc. has a 52 week low of $127.85 and a 52 week high of $191.55. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 11.28 and a beta of 0.46. 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 fifty day simple moving average of $178.08 and a two-hundred day simple moving average of $161.28.

Globe Life (NYSE:GL) last posted its quarterly 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). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business earned $3.05 EPS. Globe Life’s revenue for the quarter was up 8.0% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, equities analysts anticipate that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

Globe Life announced that its board has approved a stock repurchase plan on Monday, August 10th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a $0.33 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is currently 8.76%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. TD Cowen increased their price target on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Morgan Stanley lifted their target price 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. Weiss Ratings lowered Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. 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 research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average price target of $191.67.

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.