Legal & General Group Plc Acquires Shares of 222,228 Globe Life Inc. $GL

Legal & General Group Plc acquired a new stake in Globe Life Inc. (NYSE:GL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 222,228 shares of the company’s stock, valued at approximately $39,708,000.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Globe Life in the 2nd quarter valued at $987,901,000. Pzena Investment Management LLC acquired a new stake in Globe Life during the 2nd quarter worth $242,256,000. Norges Bank purchased a new position in Globe Life during the 4th quarter worth $155,617,000. Northwestern Mutual Wealth Management Co. grew its position in Globe Life by 34,786.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company’s stock worth $123,345,000 after purchasing an additional 879,391 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Globe Life by 98.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock worth $174,340,000 after purchasing an additional 696,548 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In other news, CFO Thomas Peter Kalmbach sold 21,000 shares of the 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 transaction, the chief financial officer directly owned 50,568 shares of the company’s stock, valued at approximately $9,105,274.08. This represents a 29.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $166.68, for a total value of $1,666,800.00. Following the completion of the sale, the chief executive officer directly owned 54,020 shares of the company’s stock, valued at $9,004,053.60. This represents a 15.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 151,908 shares of company stock valued at $27,239,981 over the last 90 days. Insiders own 2.11% of the company’s stock.

Globe Life Stock Performance

Shares of GL opened at $173.41 on Friday. The stock has a market capitalization of $13.33 billion, a P/E ratio of 11.51 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a 1 year low of $127.85 and a 1 year high of $191.55. The company’s fifty day moving average is $178.77 and its two-hundred day moving average is $159.53.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing the consensus estimate 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%.The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. On average, sell-side analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current year.

Globe Life declared that its board has initiated a stock buyback program on Monday, August 10th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to buy up to 17.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Globe Life Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GL shares. Morgan Stanley upped their target price on shares of Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Jefferies Financial Group raised their price target on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, July 10th. JPMorgan Chase & Co. boosted their price target on Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods reduced their price objective on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, July 24th. Finally, TD Cowen increased their price objective on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Globe Life presently has a consensus 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.