State of Wyoming Buys New Position in Globe Life Inc. $GL

State of Wyoming bought a new stake in Globe Life Inc. (NYSE:GL) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 4,064 shares of the company’s stock, valued at approximately $726,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GL. Norges Bank purchased a new position in shares of Globe Life in the fourth quarter valued at approximately $155,617,000. Northwestern Mutual Wealth Management Co. grew its holdings 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 valued at $123,345,000 after purchasing an additional 879,391 shares in the last quarter. AQR Capital Management LLC increased its stake in Globe Life by 98.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock worth $174,340,000 after buying an additional 696,548 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Globe Life during the 3rd quarter worth approximately $80,925,000. Finally, Ascentis Wealth Management LLC increased its stake in Globe Life by 23,840.4% during the 2nd quarter. Ascentis Wealth Management LLC now owns 381,131 shares of the company’s stock worth $68,100,000 after buying an additional 379,539 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Down 0.1%

Shares of NYSE:GL opened at $180.87 on Monday. Globe Life Inc. has a fifty-two week low of $127.85 and a fifty-two week high of $191.55. The firm’s 50 day moving average price is $177.16 and its 200 day moving average price is $157.41. 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 stock has a market cap of $13.90 billion, a price-to-earnings ratio of 12.01 and a beta of 0.48.

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 firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the firm earned $3.05 EPS. The company’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. As a group, equities research analysts predict 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 authorized a stock repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders 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 0.7%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s payout ratio is 8.76%.

Insider Activity

In related news, Director Cheryl Alston sold 8,258 shares of the business’s 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 transaction, the director owned 16,621 shares in the company, valued at approximately $2,979,148.04. The trade was a 33.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 53,518 shares in the company, valued at $9,560,455.52. This trade represents a 40.88% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 191,747 shares of company stock valued at $33,480,408. Insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings cut shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. boosted their price target 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. Morgan Stanley upped their price objective on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Wells Fargo & Company increased their price objective on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods decreased their target price on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus target price of $191.67.

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.