Bank of America Corp DE Lowers Holdings in Globe Life Inc. $GL

Bank of America Corp DE lowered its holdings in Globe Life Inc. (NYSE:GL) by 7.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 641,343 shares of the company’s stock after selling 49,570 shares during the period. Bank of America Corp DE’s holdings in Globe Life were worth $89,256,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new stake in Globe Life during the 4th quarter worth approximately $30,000. CYBER HORNET ETFs LLC acquired a new position in shares of Globe Life in the second quarter worth $28,000. MUFG Securities EMEA plc acquired a new position in shares of Globe Life in the second quarter worth $31,000. Torren Management LLC purchased a new stake in shares of Globe Life during the fourth quarter worth $37,000. Finally, AdvisorNet Financial Inc increased its position in shares of Globe Life by 41.1% during the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock worth $44,000 after acquiring an additional 92 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Down 1.3%

Globe Life stock opened at $183.53 on Friday. Globe Life Inc. has a fifty-two week low of $127.85 and a fifty-two week high of $191.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market capitalization of $14.10 billion, a P/E ratio of 12.19 and a beta of 0.48. The stock has a 50-day simple moving average of $174.45 and a 200-day simple moving average of $155.77.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). The business had revenue of $1.60 billion for 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 business’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities research analysts expect that Globe Life Inc. will post 15.7 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s dividend payout ratio is currently 8.76%.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $166.68, for a total value of $1,666,800.00. Following the completion of the sale, the chief executive officer directly owned 54,020 shares of the company’s stock, valued at $9,004,053.60. This trade represents a 15.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 21,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $180.06, for a total value of $3,781,260.00. Following the completion of the sale, the chief financial officer directly owned 50,568 shares of the company’s stock, valued at approximately $9,105,274.08. This trade represents a 29.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 207,384 shares of company stock valued at $35,883,033 over the last 90 days. Insiders own 2.11% of the company’s stock.

Analyst Ratings Changes

GL has been the topic of several analyst reports. Jefferies Financial Group increased their price objective on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods lowered their target price on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, July 24th. Weiss Ratings downgraded Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. Morgan Stanley increased their price target on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, TD Cowen lifted their price objective on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.67.

About Globe Life

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.