Globe Life Inc. $GL Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its position in Globe Life Inc. (NYSE:GL) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,702 shares of the company’s stock after acquiring an additional 5,600 shares during the quarter. New York State Teachers Retirement System’s holdings in Globe Life were worth $12,143,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Global Assets Advisory LLC purchased a new position in shares of Globe Life in the 2nd quarter valued at about $25,000. AdvisorNet Financial Inc boosted its holdings in Globe Life by 60.0% in the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock valued at $28,000 after purchasing an additional 84 shares in the last quarter. TD Private Client Wealth LLC purchased a new position in Globe Life in the second quarter valued at approximately $39,000. SouthState Corp purchased a new position in Globe Life in the first quarter valued at approximately $43,000. Finally, Ransom Advisory Ltd acquired a new stake in Globe Life during the first quarter worth approximately $50,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity

In other news, CEO James Matthew Darden sold 33,270 shares of Globe Life stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the sale, the chief executive officer owned 49,842 shares of the company’s stock, valued at $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the transaction, the executive vice president directly owned 47,066 shares of the company’s stock, valued at $6,467,339.06. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,722 shares of company stock worth $11,733,793 over the last quarter. Insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

Shares of GL stock opened at $134.78 on Friday. The stock’s 50-day moving average price is $139.85 and its 200 day moving average price is $128.95. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $10.92 billion, a PE ratio of 10.77 and a beta of 0.55. Globe Life Inc. has a 52-week low of $100.27 and a 52-week high of $147.83.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $2.97 EPS. The company’s revenue was up 2.9% on a year-over-year basis. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. Globe Life’s dividend payout ratio is presently 8.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GL shares. Wells Fargo & Company increased their target price on shares of Globe Life from $150.00 to $172.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Cfra Research upgraded Globe Life to a “moderate buy” rating in a research report on Friday, July 25th. Truist Financial assumed coverage on Globe Life in a report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 target price for the company. Keefe, Bruyette & Woods raised their price target on Globe Life from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $152.11.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.