Engineers Gate Manager LP Sells 17,557 Shares of Globe Life Inc. $GL

Engineers Gate Manager LP reduced its stake in Globe Life Inc. (NYSE:GL) by 32.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,141 shares of the company’s stock after selling 17,557 shares during the period. Engineers Gate Manager LP’s holdings in Globe Life were worth $6,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new position in Globe Life during the 2nd quarter worth approximately $28,000. Hilton Head Capital Partners LLC acquired a new stake in Globe Life in the fourth quarter valued at approximately $30,000. MUFG Securities EMEA plc acquired a new stake in Globe Life in the second quarter valued at approximately $31,000. Johnson Financial Group Inc. bought a new stake in shares of Globe Life during the second quarter worth $39,000. Finally, AdvisorNet Financial Inc grew its stake in shares of Globe Life by 41.1% during the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock worth $44,000 after buying an additional 92 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO James Darden sold 50,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 46.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Majors sold 37,000 shares of Globe Life stock in a transaction that occurred on Wednesday, July 29th. The stock was 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 approximately $9,560,455.52. This represents a 40.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 141,908 shares of company stock valued at $25,573,181 over the last three months. 2.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GL has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Jefferies Financial Group boosted their price objective on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Weiss Ratings cut Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. TD Cowen increased 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. Finally, Keefe, Bruyette & Woods dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $191.67.

Globe Life Price Performance

GL stock opened at $171.09 on Friday. The company has a market capitalization of $13.15 billion, a P/E ratio of 11.36 and a beta of 0.46. The company has a fifty day moving average price of $177.70 and a 200-day moving average price of $161.53. 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 Inc. has a 52-week low of $127.85 and a 52-week high of $191.55.

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

Globe Life announced that its board has authorized 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 repurchase up to 17.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Globe Life Dividend Announcement

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

Globe Life Profile

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company’s principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.