Hayek Kallen Investment Management Takes Position in Globe Life Inc. $GL

Hayek Kallen Investment Management bought a new position in shares of Globe Life Inc. (NYSE:GL) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,425 shares of the company’s stock, valued at approximately $612,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Globe Life by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock worth $1,411,311,000 after acquiring an additional 86,349 shares in the last quarter. BlackRock Inc. acquired a new position in Globe Life during the second quarter worth $987,901,000. Invesco Ltd. lifted its holdings in Globe Life by 2.7% during the fourth quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock valued at $552,262,000 after purchasing an additional 102,445 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Globe Life by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock valued at $327,479,000 after purchasing an additional 217,331 shares in the last quarter. Finally, Morgan Stanley grew its position 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 purchasing an additional 125,567 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 0.1%

Shares of NYSE GL opened at $175.78 on Friday. The stock has a market cap of $13.51 billion, a PE ratio of 11.67 and a beta of 0.48. 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 company has a 50-day moving average of $178.72 and a 200 day moving average of $159.43.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, sell-side analysts predict that Globe Life Inc. will post 15.71 EPS for the current fiscal year.

Globe Life announced that its board has initiated a stock buyback program on Monday, August 10th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be given a dividend of $0.33 per share. The ex-dividend date 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%.

Insider Activity

In other Globe Life news, Director Cheryl Alston sold 8,258 shares of the firm’s stock in a transaction 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 directly owned 16,621 shares of the company’s stock, valued at $2,979,148.04. This trade represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Matthew Darden sold 50,000 shares of Globe Life stock in a transaction on Friday, July 31st. The stock was sold at an average price of $182.43, for a total value of $9,121,500.00. Following the transaction, the chief executive officer owned 58,451 shares in the company, valued at approximately $10,663,215.93. This represents a 46.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 151,908 shares of company stock valued at $27,239,981 in the last 90 days. 2.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GL has been the subject of a number of research reports. Jefferies Financial Group boosted their target price on shares of Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Morgan Stanley raised their price target on shares of 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 cut Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. TD Cowen boosted their price objective on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Piper Sandler raised their target price on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. One equities research 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’s stock. According to data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $191.67.

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.