Teacher Retirement System of Texas Increases Stake in Globe Life Inc.

The Teacher Retirement System of Texas has significantly increased its investment in Globe Life Inc. (NYSE:GL) by 44.8% during the fourth quarter, as reported in its latest filing with the Securities and Exchange Commission. Following this increase, the institution now owns 58,309 shares of Globe Life, having acquired an additional 18,043 shares over the period. This ownership represents approximately 0.07% of Globe Life's total stock, valued at $6,503,000 according to the most recent disclosures.

In addition to the Teacher Retirement System of Texas, several other hedge funds and institutional investors have also adjusted their positions in Globe Life. For instance, State Street Corp increased its holdings by 3.4% in the third quarter, now owning 3,545,272 shares worth about $375,480,000 after purchasing 115,432 more shares. Geode Capital Management also boosted its stake by 3.5%, acquiring 89,299 additional shares to bring its total to 2,618,764 shares, valued around $276,994,000.

UBS Asset Management Americas LLC made a notable increase of 22.3% to hold 1,519,675 shares after buying 277,108 shares in the same quarter, valued at roughly $160,949,000. Furthermore, Charles Schwab Investment Management raised its stake by 7.5%, adding 56,673 shares to own a total of 809,623 shares worth approximately $85,747,000. Jacobs Levy Equity Management also increased its holdings by 0.6%, possessing 660,198 shares valued at about $69,922,000. Overall, hedge funds and institutional investors own approximately 81.61% of Globe Life's stock.

Market Analysts Weigh In

Recently, several research firms have published reports on Globe Life. BMO Capital Markets started coverage on the company, assigning a "market perform" rating and setting a target price of $114.00. Conversely, Wells Fargo & Company increased their target price from $126.00 to $141.00, categorizing Globe Life with an "overweight" rating. Jefferies Financial Group adjusted their price target from $107.00 to $114.00, maintaining a "hold" rating.

Further, Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" status, raising the target price from $132.00 to $143.00. Morgan Stanley also increased their target price from $125.00 to $126.00 while giving a neutral "equal weight" rating. Currently, five analysts have a hold rating, five have issued buy ratings, and one analyst has offered a strong buy rating for Globe Life. According to MarketBeat, the consensus rating for the company is "Moderate Buy" with a target price set at $135.60.

Insider Transactions

In related news, CEO James Matthew Darden sold 24,890 of the company’s shares on February 11, with the transaction valued at approximately $3,024,632.80 at an average share price of $121.52. Following this sale, he possesses 38,973 shares with an estimated value of $4,735,998.96, reflecting a 38.97% decrease in his holdings. Additionally, CEO Frank M. Svoboda sold 11,000 shares on February 13 at an average price of $122.31, resulting in a total of $1,345,410.00. Post-transaction, he holds 18,948 shares worth about $2,317,529.88, marking a 36.73% reduction in his stake. Over the last 90 days, insiders have sold 61,338 shares valued at $7,239,630, and corporate insiders hold about 1.51% of Globe Life's stock.

Market Performance

As for Globe Life's stock performance, it opened at $126.86. The company's stock has experienced a 1-year low of $38.95 and a high of $131.39. Globe Life has a market capitalization of $10.64 billion, with a price-to-earnings ratio of 10.62 and a beta of 0.77. The stock maintains a fifty-day moving average of $122.53 and a two-hundred day average of $113.03.

Globe Life recently reported its earnings for the quarter ended February 5. The company posted earnings per share (EPS) of $3.14, surpassing analysts' expectations of $3.12 by $0.02. The company reported a return on equity of 22.32% and a net profit margin of 18.53%. Analysts forecast an EPS of 13.87 for the current fiscal year.

Dividend Announcement

Additionally, Globe Life has declared a quarterly dividend, set to be paid on May 1. Shareholders on record as of April 3 will receive a dividend of $0.27 per share, reflecting an increase from the previous quarterly dividend of $0.24. This translates to an annualized dividend of $1.08, offering a yield of 0.85% and a payout ratio of 9.04%.

Business Overview

Globe Life Inc. provides various life and supplemental health insurance products along with annuities aimed at middle-income families in the United States. The company operates through four main segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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