Equity Investment Corp Buys New Shares in Globe Life Inc. $GL

Equity Investment Corp acquired a new stake in Globe Life Inc. (NYSE:GL) during the second quarter, Holdings Channel.com reports. The firm acquired 688,216 shares of the company’s stock, valued at approximately $122,971,000. Globe Life accounts for 2.3% of Equity Investment Corp’s portfolio, making the stock its 18th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Compound Planning Inc. grew its stake in Globe Life by 4.3% in the fourth quarter. Compound Planning Inc. now owns 1,968 shares of the company’s stock valued at $275,000 after acquiring an additional 82 shares during the period. Root Financial Partners LLC raised its position in shares of Globe Life by 23.3% during the first quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 83 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Globe Life by 5.6% in the 4th quarter. Parallel Advisors LLC now owns 1,651 shares of the company’s stock worth $231,000 after purchasing an additional 87 shares in the last quarter. First United Bank & Trust lifted its holdings in shares of Globe Life by 2.1% in the 1st quarter. First United Bank & Trust now owns 4,355 shares of the company’s stock worth $606,000 after purchasing an additional 90 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Globe Life by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,366 shares of the company’s stock valued at $329,000 after purchasing an additional 91 shares during the period. 81.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GL. JPMorgan Chase & Co. upped their price objective on shares of Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Jefferies Financial Group boosted their target price 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. Morgan Stanley raised their price target on shares of Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. TD Cowen lifted their price target on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Truist Financial increased their price target on Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and a consensus price target of $191.67.

Insider Activity

In other news, EVP Michael Clay Majors sold 37,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $9,560,455.52. This trade represents a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Matthew 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 value 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. This represents a 46.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 179,844 shares of company stock valued at $31,616,279. 2.11% of the stock is currently owned by corporate insiders.

Globe Life Stock Down 0.7%

Shares of NYSE GL opened at $178.10 on Wednesday. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The business’s fifty day moving average price is $177.99 and its 200-day moving average price is $157.99. The stock has a market capitalization of $13.69 billion, a PE ratio of 11.83 and a beta of 0.48.

Globe Life (NYSE:GL) last announced 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). 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 during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the business posted $3.05 EPS. The company’s revenue 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. On average, equities research analysts anticipate that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid 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, October 5th. Globe Life’s dividend payout ratio is presently 8.76%.

Globe Life declared that its board has approved a share buyback program on Monday, August 10th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to buy up to 17.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.