The Manufacturers Life Insurance Company Purchases Shares of 57,927 Globe Life Inc. $GL

The Manufacturers Life Insurance Company purchased a new stake in shares of Globe Life Inc. (NYSE:GL) in the second quarter, HoldingsChannel reports. The institutional investor purchased 57,927 shares of the company’s stock, valued at approximately $10,350,000.

Several other institutional investors also recently modified their holdings of GL. CYBER HORNET ETFs LLC purchased a new stake in Globe Life in the second quarter valued at approximately $28,000. Hilton Head Capital Partners LLC purchased a new position in Globe Life in the 4th quarter worth approximately $30,000. MUFG Securities EMEA plc purchased a new position in Globe Life in the 2nd quarter worth approximately $31,000. Johnson Financial Group Inc. bought a new position in shares of Globe Life in the 2nd quarter worth $39,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of Globe Life by 41.1% in the 1st quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock worth $44,000 after buying an additional 92 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Morgan Stanley increased their target price on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Weiss Ratings downgraded Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research 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 note on Wednesday, July 15th. Finally, Jefferies Financial Group upped their price objective on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, July 10th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $191.67.

Globe Life Trading Down 1.3%

Shares of GL opened at $173.41 on Friday. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 11.51 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 fifty-two week low of $127.85 and a fifty-two week high of $191.55. The firm has a 50 day moving average price of $178.77 and a 200-day moving average price of $159.53.

Globe Life (NYSE:GL) last announced 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 business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the company posted $3.05 EPS. Globe Life’s revenue for the quarter was up 8.0% on a year-over-year basis. 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 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders 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 dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s payout ratio is 8.76%.

Globe Life announced that its Board of Directors has authorized a stock buyback plan on Monday, August 10th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to buy up to 17.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Globe Life

In other Globe Life news, Director Cheryl Alston sold 8,258 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 50,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $182.43, for a total value of $9,121,500.00. Following the sale, the chief executive officer directly owned 58,451 shares of the company’s stock, valued at approximately $10,663,215.93. This trade represents a 46.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 151,908 shares of company stock worth $27,239,981 over the last three months. Corporate insiders own 2.11% of the company’s stock.

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.