Freestone Grove Partners LP Takes $49.09 Million Position in Globe Life Inc. $GL

Freestone Grove Partners LP bought a new position in Globe Life Inc. (NYSE:GL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 274,736 shares of the company’s stock, valued at approximately $49,090,000. Freestone Grove Partners LP owned approximately 0.36% of Globe Life at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GL. Vanguard Group Inc. raised its position in Globe Life by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock valued at $1,411,311,000 after purchasing an additional 86,349 shares during the last quarter. BlackRock Inc. acquired a new position in Globe Life in the second quarter worth $987,901,000. Invesco Ltd. grew its holdings in shares of Globe Life by 2.7% during the fourth quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock worth $552,262,000 after purchasing an additional 102,445 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Globe Life by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock worth $327,479,000 after purchasing an additional 217,331 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Globe Life by 7.2% in the fourth quarter. Morgan Stanley now owns 1,860,257 shares of the company’s stock valued at $260,176,000 after buying an additional 125,567 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Insider Transactions at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 50,000 shares of Globe Life stock in a transaction on Friday, July 31st. The shares were sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the completion of the sale, the chief executive officer owned 58,451 shares of the company’s stock, valued at approximately $10,663,215.93. The trade was a 46.10% decrease in their position. The transaction 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 on Friday, June 12th. The shares were sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the sale, the chief executive officer owned 54,020 shares of the company’s stock, valued at $9,004,053.60. The trade was a 15.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 151,908 shares of company stock valued at $27,239,981. 2.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on GL. JPMorgan Chase & Co. lifted their price target on Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. TD Cowen increased their price objective on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Jefferies Financial Group raised their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Piper Sandler boosted their target price on shares of Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average target price of $191.67.

Globe Life Stock Performance

Shares of NYSE:GL opened at $175.56 on Thursday. 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 1-year low of $127.85 and a 1-year high of $191.55. The stock has a market capitalization of $13.49 billion, a P/E ratio of 11.66 and a beta of 0.48. The business has a 50-day moving average price of $178.63 and a two-hundred day moving average price of $159.23.

Globe Life (NYSE:GL) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the business posted $3.05 EPS. The firm’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 predict that Globe Life Inc. will post 15.71 earnings per share for the current year.

Globe Life announced that its Board of Directors has authorized a share 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid 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 dividend payout ratio (DPR) is presently 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.