The Manufacturers Life Insurance Company Makes New Investment in Globe Life Inc. $GL

The Manufacturers Life Insurance Company bought a new stake in Globe Life Inc. (NYSE:GL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,927 shares of the company’s stock, valued at approximately $10,350,000. The Manufacturers Life Insurance Company owned about 0.08% of Globe Life as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new stake in shares of Globe Life in the 2nd quarter worth approximately $28,000. Hilton Head Capital Partners LLC bought a new position in Globe Life during the fourth quarter valued at $30,000. MUFG Securities EMEA plc purchased a new stake in Globe Life in the second quarter worth $31,000. Johnson Financial Group Inc. purchased a new stake in Globe Life in the second quarter worth $39,000. Finally, AdvisorNet Financial Inc raised its stake in shares of Globe Life by 41.1% in the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock valued at $44,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

Globe Life stock opened at $173.41 on Friday. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55. The business has a fifty day moving average price of $178.77 and a 200-day moving average price of $159.53. 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 firm has a market capitalization of $13.33 billion, a P/E ratio of 11.51 and a beta of 0.48.

Globe Life (NYSE:GL) last released its quarterly earnings data 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). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the firm posted $3.05 earnings per share. The business’s revenue for the quarter 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. As a group, equities research analysts forecast that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life announced that its Board of Directors has initiated a share buyback program on Monday, August 10th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 17.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Globe Life Announces Dividend

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

Insider Activity

In related 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 of the company’s stock, valued at approximately $2,979,148.04. The trade was a 33.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $166.68, for a total transaction 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 position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 151,908 shares of company stock valued at $27,239,981. 2.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on GL. Piper Sandler upped their price target on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley boosted their price objective on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Wells Fargo & Company upped their price objective 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. Weiss Ratings downgraded shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. Finally, Keefe, Bruyette & Woods cut their target price 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 issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $191.67.

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.