Virtus Advisers LLC Invests $2.27 Million in Globe Life Inc. $GL

Virtus Advisers LLC acquired a new stake in Globe Life Inc. (NYSE:GL) in the 2nd quarter, HoldingsChannel reports. The fund acquired 12,723 shares of the company’s stock, valued at approximately $2,273,000. Globe Life makes up about 0.9% of Virtus Advisers LLC’s investment portfolio, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in GL. Compound Planning Inc. raised its position in Globe Life by 4.3% during the fourth quarter. Compound Planning Inc. now owns 1,968 shares of the company’s stock worth $275,000 after acquiring an additional 82 shares in the last quarter. Root Financial Partners LLC grew its position in shares of Globe Life by 23.3% in the 1st quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock valued at $61,000 after acquiring an additional 83 shares during the period. Parallel Advisors LLC increased its stake in shares of Globe Life by 5.6% during the 4th quarter. Parallel Advisors LLC now owns 1,651 shares of the company’s stock worth $231,000 after purchasing an additional 87 shares during the last quarter. First United Bank & Trust increased its stake in shares of Globe Life by 2.1% during the 1st quarter. First United Bank & Trust now owns 4,355 shares of the company’s stock worth $606,000 after purchasing an additional 90 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Globe Life by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,366 shares of the company’s stock valued at $329,000 after purchasing an additional 91 shares during the period. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Down 0.4%

Shares of GL opened at $170.79 on Friday. The firm has a market cap of $13.13 billion, a P/E ratio of 11.34 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a 52 week low of $127.85 and a 52 week high of $191.55. The firm’s 50-day simple moving average is $178.28 and its 200 day simple moving average is $158.43.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $1.59 billion. During the same quarter last year, the business earned $3.05 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. On average, analysts forecast that Globe Life Inc. will post 15.71 earnings per share for the current year.

Globe Life declared that its board has approved a stock repurchase plan on Monday, August 10th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 17.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be issued a $0.33 dividend. 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 dividend payout ratio is currently 8.76%.

Insider Activity

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 approximately $2,979,148.04. The trade was a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total value of $6,609,680.00. Following the sale, the executive vice president directly owned 53,518 shares in the company, valued at $9,560,455.52. This represents a 40.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 151,908 shares of company stock worth $27,239,981. Corporate insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GL. Piper Sandler raised their target price on shares of Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Truist Financial upped their price objective on Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Morgan Stanley raised their price objective on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Jefferies Financial Group lifted their target price on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note 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 on the stock in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.67.

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.