Legal & General Group Plc Acquires New Holdings in Globe Life Inc. $GL

Legal & General Group Plc bought a new stake in Globe Life Inc. (NYSE:GL) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 222,228 shares of the company’s stock, valued at approximately $39,708,000. Legal & General Group Plc owned about 0.29% of Globe Life at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GL. Hilton Head Capital Partners LLC purchased a new position in shares of Globe Life during the 4th quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new position in shares of Globe Life during the second quarter worth $39,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Globe Life in the second quarter valued at $28,000. MUFG Securities EMEA plc purchased a new stake in shares of Globe Life in the 2nd quarter valued at $31,000. Finally, Torren Management LLC acquired a new position in Globe Life during the 4th quarter worth about $37,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Trading Down 1.3%

NYSE:GL opened at $173.41 on Friday. The stock has a 50-day simple moving average of $178.77 and a 200-day simple moving average of $159.53. The stock has a market cap of $13.33 billion, a P/E ratio of 11.51 and a beta of 0.48. Globe Life Inc. has a 1 year low of $127.85 and a 1 year high of $191.55. 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 (NYSE:GL) last issued its earnings results 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 for the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.Globe Life’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, 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 approved a share buyback program on Monday, August 10th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 17.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Globe Life Dividend Announcement

The business 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 dividend payout ratio is currently 8.76%.

Insider Activity at Globe Life

In other news, CFO Thomas Peter Kalmbach sold 21,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer owned 50,568 shares in the company, valued at approximately $9,105,274.08. The trade was a 29.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Matthew Darden sold 50,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were 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 owned 58,451 shares of the company’s stock, valued at approximately $10,663,215.93. The trade was a 46.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 151,908 shares of company stock valued at $27,239,981 in the last quarter. Company insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GL. Piper Sandler lifted their target price on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Jefferies Financial Group lifted their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Morgan Stanley upped their target price on shares of Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods reduced their target price on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. One equities research 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 price target 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.