Ieq Capital LLC Invests $19.36 Million in Globe Life Inc. $GL

Ieq Capital LLC bought a new position in shares of Globe Life Inc. (NYSE:GL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 108,346 shares of the company’s stock, valued at approximately $19,359,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Globe Life by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock valued at $1,411,311,000 after acquiring an additional 86,349 shares during the period. BlackRock Inc. purchased a new stake in Globe Life in the 2nd quarter worth approximately $987,901,000. Invesco Ltd. grew its stake in shares of Globe Life by 2.7% during the 4th quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock worth $552,262,000 after purchasing an additional 102,445 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Globe Life by 10.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock worth $327,479,000 after purchasing an additional 217,331 shares during the period. Finally, Morgan Stanley increased its holdings 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 valued at $260,176,000 after purchasing an additional 125,567 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Price Performance

Globe Life stock opened at $171.07 on Friday. The company’s fifty day moving average price is $178.36 and its 200 day moving average price is $158.52. Globe Life Inc. has a 1 year low of $127.85 and a 1 year high of $191.55. The stock has a market capitalization of $13.15 billion, a P/E ratio of 11.36 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 (NYSE:GL) last issued 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). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.Globe Life’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, equities research analysts anticipate that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

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

Globe Life Dividend Announcement

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

Insider Activity

In other Globe Life news, CEO James Matthew Darden sold 50,000 shares of the business’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 sale, the chief executive officer directly owned 58,451 shares in the company, valued at approximately $10,663,215.93. The trade was a 46.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank M. 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 value of $1,666,800.00. Following the sale, the chief executive officer owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. This trade represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 151,908 shares of company stock worth $27,239,981. Company insiders own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GL. Morgan Stanley boosted 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. Weiss Ratings lowered shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Jefferies Financial Group lifted their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Wells Fargo & Company upped their price objective on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $191.67.

About Globe Life

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.