Birmingham Capital Management Co. Inc. AL Buys Shares of 3,150 Globe Life Inc. $GL

Birmingham Capital Management Co. Inc. AL purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,150 shares of the company’s stock, valued at approximately $563,000.

Several other hedge funds and other institutional investors have also modified their holdings of GL. Vanguard Group Inc. raised its holdings in shares of Globe Life by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock valued at $1,411,311,000 after buying an additional 86,349 shares during the period. BlackRock Inc. purchased a new position in Globe Life during the 2nd quarter valued at about $987,901,000. Invesco Ltd. boosted its holdings in Globe Life by 2.7% during the 4th quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock valued at $552,262,000 after acquiring an additional 102,445 shares during the period. Dimensional Fund Advisors LP grew its position in Globe Life by 10.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock valued at $327,479,000 after acquiring an additional 217,331 shares in the last quarter. Finally, Morgan Stanley grew its position in Globe Life by 7.2% in the 4th quarter. Morgan Stanley now owns 1,860,257 shares of the company’s stock valued at $260,176,000 after acquiring an additional 125,567 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GL has been the topic of several research reports. Piper Sandler increased their price target on shares of Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Wells Fargo & Company upped their target price on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Morgan Stanley increased their target price 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. Finally, TD Cowen raised their price target on shares of Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.67.

Globe Life Trading Up 1.9%

GL opened at $175.56 on Thursday. Globe Life Inc. has a 12 month low of $127.85 and a 12 month high of $191.55. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 11.66 and a beta of 0.48. 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 has a fifty day moving average price of $178.63 and a 200 day moving average price of $159.23.

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

Globe Life Announces Dividend

The company also recently announced 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 0.8%. The ex-dividend date is Monday, October 5th. Globe Life’s dividend payout ratio is presently 8.76%.

Globe Life declared that its Board of Directors has approved a share repurchase program on Monday, August 10th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to buy up to 17.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Globe Life

In other Globe Life news, Director Cheryl Alston sold 8,258 shares of the business’s stock in a transaction that occurred 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 $2,979,148.04. The trade was a 33.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction that occurred 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 sale, 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. The SEC filing for this sale provides additional information. Insiders have sold 151,908 shares of company stock valued at $27,239,981 over the last quarter. Insiders own 2.11% of the company’s stock.

About Globe Life

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.