Carmignac Gestion Sells 62,900 Shares of Globe Life Inc. $GL

Carmignac Gestion reduced its holdings in shares of Globe Life Inc. (NYSE:GL) by 37.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 107,100 shares of the company’s stock after selling 62,900 shares during the quarter. Carmignac Gestion’s holdings in Globe Life were worth $19,137,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, CEO Frank Svoboda sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cheryl Alston sold 8,258 shares of the company’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 transaction of $1,480,163.92. Following the completion of the transaction, the director owned 16,621 shares in the company, valued at approximately $2,979,148.04. This trade represents a 33.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 151,908 shares of company stock worth $27,239,981. Company insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on GL shares. Keefe, Bruyette & Woods decreased their price objective on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Weiss Ratings downgraded Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. 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 increased their price target on shares of Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Wells Fargo & Company raised their price objective on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.67.

Globe Life Price Performance

Shares of Globe Life stock traded down $3.75 during trading on Tuesday, hitting $170.52. The stock had a trading volume of 370,883 shares, compared to its average volume of 556,458. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 12 month low of $127.85 and a 12 month high of $191.55. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 11.32 and a beta of 0.46. The business’s 50-day moving average is $178.45 and its 200 day moving average is $160.91.

Globe Life (NYSE:GL) last posted 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 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 prior year, the business posted $3.05 EPS. Globe Life’s quarterly 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. As a group, sell-side analysts anticipate that Globe Life Inc. will post 15.71 earnings per share for the current year.

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

Globe Life Announces Dividend

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

About Globe Life

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.