3,478 Shares of Globe Life Inc. $GL Purchased by USA Financial Formulas

USA Financial Formulas acquired a new position in shares of Globe Life Inc. (NYSE:GL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,478 shares of the company’s stock, valued at approximately $576,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Globe Life in the second quarter worth about $987,901,000. State Street Corp grew its stake in shares of Globe Life by 2.1% during the second quarter. State Street Corp now owns 3,735,409 shares of the company’s stock valued at $667,443,000 after purchasing an additional 76,745 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Globe Life by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock valued at $327,479,000 after purchasing an additional 217,331 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Globe Life in the second quarter valued at approximately $242,256,000. Finally, Swedbank AB increased its holdings in shares of Globe Life by 15.3% in the first quarter. Swedbank AB now owns 1,109,200 shares of the company’s stock valued at $154,367,000 after purchasing an additional 147,200 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 0.5%

Shares of NYSE GL opened at $168.49 on Friday. Globe Life Inc. has a twelve month low of $127.85 and a twelve month high of $191.55. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 11.19 and a beta of 0.44. 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’s fifty day moving average is $171.45 and its 200-day moving average is $166.26.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 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 the consensus estimate of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. Globe Life’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities research analysts predict that Globe Life Inc. will post 15.70 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently announced 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. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s payout ratio is presently 8.76%.

Globe Life announced that its Board of Directors has approved a stock repurchase program on Monday, August 10th that authorizes the company to buy back $2.50 billion in shares. This buyback authorization authorizes the company to purchase up to 17.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Globe Life from $208.00 to $197.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Piper Sandler increased their price objective on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their target price on Globe Life from $193.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company lifted their target price on Globe Life from $190.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Finally, Weiss Ratings downgraded Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 6th. One investment 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. According to MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.56.

Insiders Place Their Bets

In other news, EVP Michael Majors sold 37,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the sale, the executive vice president owned 53,518 shares of the company’s stock, valued at $9,560,455.52. This trade represents a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Darden sold 50,000 shares of Globe Life stock in a transaction dated 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 transaction, the chief executive officer owned 58,451 shares in the company, valued at $10,663,215.93. This trade represents a 46.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 143,650 shares of company stock valued at $25,793,717 in the last three months. Insiders own 2.11% of the company’s stock.

About Globe Life

Globe Life Inc (NYSE: GL) is an insurance holding company that provides life and supplemental health insurance products to individuals and families in the United States. Its offerings include term and whole life insurance, mortgage protection coverage, accident and supplemental health policies, and Medicare supplement insurance.

The company distributes its products through a network of insurance agencies, independent agents, and direct-to-consumer channels. Its principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, and Family Heritage Life Insurance Company.