VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Globe Life Inc. $GL

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Globe Life Inc. (NYSE:GL) in the second quarter, HoldingsChannel reports. The firm bought 25,600 shares of the company’s stock, valued at approximately $4,574,000.

Other institutional investors also recently made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new stake in Globe Life during the fourth quarter worth approximately $2,073,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Globe Life by 34,786.0% in 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 period. Norges Bank purchased a new stake in Globe Life during the fourth quarter worth approximately $155,617,000. Handelsbanken Fonder AB increased its holdings in Globe Life by 23.1% in the 4th quarter. Handelsbanken Fonder AB now owns 75,235 shares of the company’s stock valued at $10,522,000 after purchasing an additional 14,135 shares in the last quarter. Finally, Sei Investments Co. grew its position in Globe Life by 49.1% in the first quarter. Sei Investments Co. now owns 71,795 shares of the company’s stock valued at $9,993,000 after acquiring an additional 23,632 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on GL shares. Weiss Ratings downgraded shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. 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 research note on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Wells Fargo & Company increased their target price on Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Piper Sandler increased their price objective on Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.67.

Globe Life Trading Down 0.4%

NYSE GL opened at $169.93 on Thursday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 1-year low of $127.85 and a 1-year high of $191.55. The firm’s fifty day simple moving average is $178.08 and its 200-day simple moving average is $161.28. The company has a market capitalization of $13.06 billion, a PE ratio of 11.28 and a beta of 0.46.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, sell-side analysts anticipate that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders 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 is Monday, October 5th. Globe Life’s dividend payout ratio (DPR) is 8.76%.

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

Insider Transactions at Globe Life

In other news, CEO James Darden sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the completion of the transaction, the chief executive officer directly owned 58,451 shares in the company, valued at $10,663,215.93. The trade was a 46.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cheryl Alston sold 8,258 shares of the stock in a transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 151,908 shares of company stock worth $27,239,981. Corporate insiders own 2.11% of the company’s stock.

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.