Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 96,426 Globe Life Inc. $GL

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Globe Life Inc. (NYSE:GL) during the 2nd quarter, HoldingsChannel reports. The firm bought 96,426 shares of the company’s stock, valued at approximately $17,229,000.

A number of other institutional investors and hedge funds have also modified their holdings of GL. Jupiter Asset Management Ltd. acquired a new position in shares of Globe Life during the fourth quarter valued at approximately $2,073,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Globe Life by 34,786.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company’s stock worth $123,345,000 after acquiring an additional 879,391 shares during the last quarter. Strs Ohio boosted its stake in shares of Globe Life by 213.7% in the fourth quarter. Strs Ohio now owns 21,907 shares of the company’s stock worth $3,064,000 after acquiring an additional 14,924 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Globe Life by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock worth $1,411,311,000 after purchasing an additional 86,349 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Globe Life by 23.1% during the fourth quarter. Handelsbanken Fonder AB now owns 75,235 shares of the company’s stock worth $10,522,000 after purchasing an additional 14,135 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Down 0.4%

Shares of NYSE:GL opened at $170.79 on Friday. Globe Life Inc. has a 52-week low of $127.85 and a 52-week high of $191.55. The stock has a market cap of $13.13 billion, a P/E ratio of 11.34 and a beta of 0.48. The business has a fifty day moving average of $178.28 and a two-hundred day moving average of $158.43. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43.

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

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

Globe Life Announces Dividend

The company 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 dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. Globe Life’s payout ratio is 8.76%.

Insider Buying and Selling

In other news, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total value of $6,609,680.00. Following the completion of the sale, the executive vice president owned 53,518 shares of the company’s stock, valued at $9,560,455.52. This represents a 40.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Cheryl Alston sold 8,258 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $179.24, for a total transaction of $1,480,163.92. Following the completion of the sale, the director directly owned 16,621 shares of the company’s stock, valued at approximately $2,979,148.04. This trade represents a 33.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 151,908 shares of company stock worth $27,239,981 over the last ninety days. 2.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Jefferies Financial Group raised their price objective on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Truist Financial increased their target price on shares of Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 24th. TD Cowen boosted their price target on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their price objective on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, 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 note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.67.

Globe Life 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.