Commerce Bank Invests $1.99 Million in Globe Life Inc. $GL

Commerce Bank bought a new stake in Globe Life Inc. (NYSE:GL) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 11,113 shares of the company’s stock, valued at approximately $1,986,000.

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

Globe Life Price Performance

NYSE GL opened at $172.44 on Wednesday. The company has a market cap of $13.25 billion, a PE ratio of 11.45 and a beta of 0.48. Globe Life Inc. has a 52 week low of $127.85 and a 52 week high of $191.55. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $178.54 and its two-hundred day simple moving average is $159.03.

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 analysts’ consensus estimates of $3.67 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Research analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current year.

Globe Life Dividend Announcement

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

Globe Life declared that its Board of Directors has approved a stock repurchase 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

GL has been the subject of a number of research reports. Morgan Stanley increased their target price 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. Weiss Ratings cut shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on 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 Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Finally, Keefe, Bruyette & Woods decreased their target price on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.67.

Insiders Place Their Bets

In other Globe Life news, Director Cheryl Alston sold 8,258 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $179.24, for a total transaction of $1,480,163.92. Following the sale, the director owned 16,621 shares in the company, valued at $2,979,148.04. This represents a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Matthew Darden sold 50,000 shares of the firm’s stock in a transaction on 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 directly owned 58,451 shares of the company’s stock, valued at $10,663,215.93. The trade was a 46.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 151,908 shares of company stock worth $27,239,981 in the last three months. Insiders own 2.11% of the company’s stock.

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.