Freestone Grove Partners LP Invests $49.09 Million in Globe Life Inc. $GL

Freestone Grove Partners LP purchased a new stake in Globe Life Inc. (NYSE:GL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 274,736 shares of the company’s stock, valued at approximately $49,090,000.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Globe Life by 6.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company’s stock valued at $1,237,000 after acquiring an additional 607 shares during the period. NewEdge Advisors LLC raised its position in shares of Globe Life by 368.1% during the first quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock worth $897,000 after purchasing an additional 5,352 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Globe Life by 11.5% during the first quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company’s stock worth $74,161,000 after purchasing an additional 58,163 shares during the period. Empowered Funds LLC bought a new position in shares of Globe Life during the 1st quarter valued at about $428,000. Finally, Focus Partners Wealth lifted its holdings in shares of Globe Life by 8.3% during the 1st quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock valued at $1,127,000 after purchasing an additional 656 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

NYSE GL opened at $175.56 on Thursday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 12-month low of $127.85 and a 12-month high of $191.55. The company has a market capitalization of $13.49 billion, a PE ratio of 11.66 and a beta of 0.48. The firm’s 50 day moving average is $178.63 and its 200-day moving average is $159.23.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the firm earned $3.05 EPS. The business’s revenue for the quarter 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 anticipate that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

Globe Life announced that its board has initiated a stock buyback plan on Monday, August 10th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Globe Life Announces Dividend

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

Insider Activity

In other Globe Life news, CFO Thomas Peter Kalmbach sold 21,000 shares of Globe Life stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $180.06, for a total transaction of $3,781,260.00. Following the completion of the transaction, the chief financial officer directly owned 50,568 shares of the company’s stock, valued at $9,105,274.08. The trade was a 29.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Clay Majors sold 37,000 shares of the company’s stock in a transaction on 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 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. Over the last ninety days, insiders sold 151,908 shares of company stock worth $27,239,981. 2.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley increased their target price on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Jefferies Financial Group increased their price objective on shares of Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Piper Sandler raised their price objective on shares of Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock 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. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $191.67.

Globe Life 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.