USA Financial Formulas Makes New Investment in Globe Life Inc. $GL

USA Financial Formulas acquired a new stake in Globe Life Inc. (NYSE:GL) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 3,478 shares of the company’s stock, valued at approximately $576,000.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Globe Life in the 2nd quarter worth $987,901,000. State Street Corp raised its stake in shares of Globe Life by 2.1% in the 2nd 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 period. Dimensional Fund Advisors LP raised its stake in shares of Globe Life by 10.2% in the 1st 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 period. Pzena Investment Management LLC acquired a new stake in shares of Globe Life in the 2nd quarter valued at about $242,256,000. Finally, Swedbank AB lifted 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. 81.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GL has been the subject of several recent research reports. 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 report on Friday, July 24th. Morgan Stanley decreased their price objective on Globe Life from $208.00 to $197.00 and set an “overweight” rating for the company in a report on Monday, October 5th. TD Cowen lifted their target price on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. 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 report on Thursday. Finally, Wells Fargo & Company boosted 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $189.56.

Globe Life Trading Up 0.5%

Shares of Globe Life stock opened at $168.49 on Friday. Globe Life Inc. has a 12-month low of $127.85 and a 12-month high of $191.55. The stock has a market cap of $12.95 billion, a P/E 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 business’s 50 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 the consensus estimate of $3.67 by ($0.06). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company posted $3.05 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders 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 yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s dividend payout ratio is 8.76%.

Globe Life declared that its Board of Directors has authorized a share repurchase program on Monday, August 10th that allows the company to buy back $2.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 17.7% of its shares through open market purchases. Share buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Globe Life news, CEO James Darden sold 50,000 shares of the stock in a transaction on 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Majors sold 37,000 shares of Globe Life stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the completion of the transaction, the executive vice president directly owned 53,518 shares of the company’s stock, valued at approximately $9,560,455.52. This trade represents a 40.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 143,650 shares of company stock worth $25,793,717. 2.11% of the stock is owned by insiders.

Globe Life Profile

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.