5 Investors Betting Big on Globe Life (GL) Stock


  • Shares of Globe Life (GL) stock are rebounding today after the company issued a rebuttal to a short report.
  • Fuzzy Panda Research alleged the company engaged in fraudulent practices, something the company denied.
  • Here are the top five investors benefiting from today’s rally in GL stock. 
GL stock - 5 Investors Betting Big on Globe Life (GL) Stock

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After getting hit by a short report from Fuzzy Panda Research yesterday, shares of Globe Life (NYSE:GL) hit a fresh all-time low. However, GL stock is recovering today, up more than 15% as the company issued a rebuttal to allegations laid out in that short report.

The company noted that its “business model has stood the test of time” for more than seven decades and that the company will “continue to generate sustainable earnings growth that provides long-term value for our shareholders.”

Globe Life called many of the “inflammatory allegations” misleading and untrue. Interestingly, the company’s management team appears to believe that these short sellers have relied on previous allegations made by various law firms in a bid to manipulate the company’s stock price and turn a profit. In other words, this appears to be another case of a company hitting back after being hit by what they deem to be “mischaracterized facts” and “unsubstantiated claims.”

Given today’s rise, let’s dive into the top institutional shareholders benefiting from today’s rise.

Top 5 Investors in GL Stock

According to Yahoo Finance, here are the, at the time of writing, top five institutional holders of GL stock:

  • Vanguard tops the list, owning more than 10.8 million shares worth roughly $606 million.
  • Blackrock (NYSE:BLK) comes in second place, owning nearly 6.7 million shares worth just shy of $375 million.
  • Wellington Management Group owns more than 4.6 million shares, valued at $262 million.
  • JPMorgan Chase (NYSE:JPM) comes in fourth, with more than 4.3 million shares valued at $242 million.
  • Finally, State Street (NYSE:STT) rounds out the list, with 3.8 million shares worth $216 million.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2024/04/5-investors-betting-big-on-globe-life-gl-stock/.

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