Globe Life Inc. $GL Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its holdings in Globe Life Inc. (NYSE:GL) by 45.5% during the 4th quarter, Holdings Channel reports. The fund owned 15,523 shares of the company’s stock after acquiring an additional 4,855 shares during the quarter. M&T Bank Corp’s holdings in Globe Life were worth $2,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA increased its position in Globe Life by 5.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,372 shares of the company’s stock valued at $2,150,000 after acquiring an additional 730 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in Globe Life by 2,617.6% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 182,215 shares of the company’s stock valued at $25,485,000 after acquiring an additional 175,510 shares during the period. Vanguard Group Inc. increased 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 acquiring an additional 86,349 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Globe Life by 41.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 77,780 shares of the company’s stock valued at $10,919,000 after acquiring an additional 22,721 shares during the period. Finally, Busey Bank increased its position in Globe Life by 21.1% in the 4th quarter. Busey Bank now owns 3,855 shares of the company’s stock valued at $539,000 after acquiring an additional 672 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GL has been the topic of several analyst reports. Truist Financial raised their target price on Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Evercore set a $157.00 target price on Globe Life in a research report on Wednesday, February 18th. JPMorgan Chase & Co. raised their target price on Globe Life from $180.00 to $181.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods reaffirmed a “moderate buy” rating and set a $168.00 price target on shares of Globe Life in a research note on Thursday, March 26th. Finally, Wells Fargo & Company increased their price target on Globe Life from $171.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $172.67.

Globe Life Stock Performance

Shares of NYSE GL opened at $151.21 on Friday. The stock has a fifty day moving average price of $144.95 and a two-hundred day moving average price of $140.39. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $11.86 billion, a P/E ratio of 10.46 and a beta of 0.50. Globe Life Inc. has a 1 year low of $116.73 and a 1 year high of $156.69.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 21.30%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.07 earnings per share. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. Research analysts forecast that Globe Life Inc. will post 15.53 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, July 6th. Globe Life’s dividend payout ratio (DPR) is presently 9.13%.

Insider Activity

In other news, CEO Frank M. Svoboda sold 12,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $144.78, for a total transaction of $1,809,750.00. Following the completion of the sale, the chief executive officer directly owned 35,868 shares of the company’s stock, valued at $5,192,969.04. This trade represents a 25.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Matthew Darden sold 18,318 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $145.10, for a total value of $2,657,941.80. Following the sale, the chief executive officer directly owned 51,093 shares of the company’s stock, valued at approximately $7,413,594.30. This represents a 26.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 89,720 shares of company stock worth $13,322,826 in the last quarter. 2.11% of the stock is currently owned by corporate insiders.

Globe Life Company 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.