Strs Ohio grew its stake in shares of Globe Life Inc. (NYSE:GL – Free Report) by 47.9% during the 1st quarter, Holdings Channel reports. The firm owned 32,404 shares of the company’s stock after buying an additional 10,497 shares during the period. Strs Ohio’s holdings in Globe Life were worth $4,510,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in GL. Norges Bank bought a new position in shares of Globe Life in the fourth quarter valued at $155,617,000. Northwestern Mutual Wealth Management Co. raised its position in Globe Life by 34,786.0% during 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 in the last quarter. AQR Capital Management LLC raised its position in Globe Life by 98.6% during the second quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock worth $174,340,000 after acquiring an additional 696,548 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Globe Life in the third quarter valued at $80,925,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Globe Life by 32.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,435,247 shares of the company’s stock valued at $200,734,000 after acquiring an additional 355,399 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods reiterated a “moderate buy” rating and issued a $168.00 target price on shares of Globe Life in a research note on Thursday, March 26th. Morgan Stanley lifted their price target on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday. Texas Capital upgraded Globe Life to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings raised Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. One investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.89.
Insider Buying and Selling
In related news, CFO Thomas Peter Kalmbach sold 15,637 shares of Globe Life stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $153.65, for a total transaction of $2,402,625.05. Following the completion of the sale, the chief financial officer directly owned 45,335 shares of the company’s stock, valued at approximately $6,965,722.75. This trade represents a 25.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Clay Majors sold 34,000 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $153.81, for a total value of $5,229,540.00. Following the completion of the sale, the executive vice president owned 53,518 shares of the company’s stock, valued at $8,231,603.58. This trade represents a 38.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 124,187 shares of company stock valued at $19,529,414 in the last ninety days. 2.11% of the stock is currently owned by company insiders.
Globe Life Stock Performance
Shares of NYSE GL traded up $1.70 during mid-day trading on Tuesday, reaching $178.68. 31,508 shares of the company were exchanged, compared to its average volume of 545,992. The company’s 50-day simple moving average is $161.66 and its 200-day simple moving average is $149.17. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $13.87 billion, a P/E ratio of 12.38 and a beta of 0.47. Globe Life Inc. has a twelve month low of $116.73 and a twelve month high of $182.32.
Globe Life (NYSE:GL – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $3.07 EPS. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, research analysts predict that Globe Life Inc. will post 15.64 earnings per share for the current year.
Globe Life Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, July 6th. Globe Life’s payout ratio is currently 9.13%.
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.
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