California State Teachers Retirement System Acquires 16,199,242 Shares of Globe Life Inc. $GL

California State Teachers Retirement System grew its holdings in shares of Globe Life Inc. (NYSE:GL) by 17,904.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,289,720 shares of the company’s stock after acquiring an additional 16,199,242 shares during the period. California State Teachers Retirement System owned approximately 0.21% of Globe Life worth $2,910,647,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new stake in shares of Globe Life in the 4th quarter worth approximately $30,000. Johnson Financial Group Inc. bought a new position in Globe Life during the 2nd quarter valued at approximately $39,000. CYBER HORNET ETFs LLC bought a new position in Globe Life during the 2nd quarter valued at approximately $28,000. MUFG Securities EMEA plc purchased a new position in Globe Life during the second quarter valued at $31,000. Finally, AdvisorNet Financial Inc raised its stake in Globe Life by 41.1% during 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 last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.7%

GL stock opened at $170.98 on Friday. Globe Life Inc. has a 1-year low of $127.85 and a 1-year high of $191.55. The business has a fifty day moving average price of $177.89 and a 200-day moving average price of $161.47. 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 stock has a market capitalization of $13.14 billion, a P/E ratio of 11.35 and a beta of 0.46.

Globe Life (NYSE:GL) last announced 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). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The business 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 company earned $3.05 earnings per share. The company’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. Equities analysts forecast that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

Globe Life announced that its board has approved a share 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Globe Life Announces Dividend

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

Insider Activity at Globe Life

In other news, Director Cheryl Alston sold 8,258 shares of Globe Life stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $179.24, for a total value of $1,480,163.92. Following the completion of the sale, the director directly owned 16,621 shares in the company, valued at $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 SEC, which is available through this link. Also, EVP Michael Majors sold 37,000 shares of the business’s 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 transaction, the executive vice president directly owned 53,518 shares of the company’s stock, valued at $9,560,455.52. The trade was a 40.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 141,908 shares of company stock worth $25,573,181 over the last quarter. 2.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on GL shares. Wells Fargo & Company boosted their target price on Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Weiss Ratings downgraded Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. Piper Sandler lifted their price target on 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. upped their price target on shares of Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley upped their price target on shares of Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.67.

Globe Life Company Profile

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company’s principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.