Redwood Investment Management LLC Invests $1.16 Million in Globe Life Inc. $GL

Redwood Investment Management LLC bought a new position in shares of Globe Life Inc. (NYSE:GL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,514 shares of the company’s stock, valued at approximately $1,164,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in 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 in the last quarter. BlackRock Inc. acquired a new position in shares of Globe Life in the second quarter valued at about $987,901,000. Invesco Ltd. increased its position in Globe Life by 2.7% during the fourth quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock worth $552,262,000 after acquiring an additional 102,445 shares during the period. Dimensional Fund Advisors LP raised its stake 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 worth $327,479,000 after purchasing an additional 217,331 shares in the last quarter. Finally, Morgan Stanley raised its stake in Globe Life by 7.2% in the 4th quarter. Morgan Stanley now owns 1,860,257 shares of the company’s stock worth $260,176,000 after purchasing an additional 125,567 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Globe Life

In other Globe Life news, Director Cheryl Alston sold 8,258 shares of the 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 sale, the director owned 16,621 shares of the company’s stock, valued at approximately $2,979,148.04. This represents a 33.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Clay Majors sold 37,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was 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 $9,560,455.52. This trade represents a 40.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 151,908 shares of company stock worth $27,239,981. Company insiders own 2.11% of the company’s stock.

Globe Life Trading Up 1.9%

GL opened at $175.56 on Thursday. The company has a market cap of $13.49 billion, a P/E ratio of 11.66 and a beta of 0.48. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $178.63 and its 200-day moving average is $159.23. Globe Life Inc. has a 1-year low of $127.85 and a 1-year high of $191.55.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share 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 company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm posted $3.05 EPS. The business’s quarterly 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. Equities research analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

Globe Life declared that its Board of Directors has initiated a share repurchase plan on Monday, August 10th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 17.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Globe Life Announces Dividend

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

Analyst Ratings Changes

GL has been the topic of several recent research reports. TD Cowen raised their target price on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price objective on Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Weiss Ratings downgraded Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Morgan Stanley increased their target price on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Wells Fargo & Company boosted their price target on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. One 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.67.

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.