Pzena Investment Management LLC Buys Shares of 1,355,811 Globe Life Inc. $GL

Pzena 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 13F filing with the Securities & Exchange Commission. The firm bought 1,355,811 shares of the company’s stock, valued at approximately $242,256,000.

Several other institutional investors also recently modified their holdings of GL. CYBER HORNET ETFs LLC bought a new stake in shares of Globe Life in the 2nd quarter valued at about $28,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $30,000. MUFG Securities EMEA plc bought a new position in Globe Life during the 2nd quarter worth approximately $31,000. Torren Management LLC bought a new position in Globe Life during the 4th quarter worth approximately $37,000. Finally, AdvisorNet Financial Inc boosted its stake in Globe Life by 41.1% during the 1st quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock worth $44,000 after acquiring an additional 92 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on GL shares. TD Cowen upped their target price on shares of Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Truist Financial increased their target price on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Jefferies Financial Group lifted their price target 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. Wells Fargo & Company boosted their price target on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of 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 given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $191.67.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 10,000 shares of Globe Life stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $166.68, for a total value of $1,666,800.00. Following the sale, the chief executive officer directly owned 54,020 shares in the company, valued at $9,004,053.60. This trade represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cheryl Alston sold 8,258 shares of the business’s 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 completion of the sale, the director directly owned 16,621 shares in the company, valued at approximately $2,979,148.04. This represents a 33.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 179,844 shares of company stock worth $31,616,279. Corporate insiders own 2.11% of the company’s stock.

Globe Life Stock Performance

GL opened at $180.00 on Tuesday. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of 11.95 and a beta of 0.48. The business’s 50-day moving average price is $177.61 and its two-hundred day moving average price is $157.71. 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 current ratio of 0.07 and a quick ratio of 0.07.

Globe Life (NYSE:GL) last posted 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). The firm 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%.The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities analysts expect that Globe Life Inc. will post 15.71 EPS 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. Shareholders of record on Monday, October 5th will be paid a $0.33 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.32 annualized dividend and a yield of 0.7%. Globe Life’s payout ratio is presently 8.76%.

Globe Life declared that its board has authorized a share repurchase plan on Monday, August 10th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to reacquire up to 17.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management 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.