Globe Life Inc. $GL Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its position in shares of Globe Life Inc. (NYSE:GL) by 93.8% during the 1st quarter, Holdings Channel reports. The firm owned 2,494 shares of the company’s stock after selling 37,477 shares during the quarter. NewEdge Advisors LLC’s holdings in Globe Life were worth $347,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Jupiter Asset Management Ltd. purchased a new position in shares of Globe Life during the fourth quarter worth $2,073,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Globe Life by 34,786.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company’s stock valued at $123,345,000 after purchasing an additional 879,391 shares during the last quarter. Strs Ohio boosted its holdings in Globe Life by 213.7% in the fourth quarter. Strs Ohio now owns 21,907 shares of the company’s stock valued at $3,064,000 after purchasing an additional 14,924 shares during the last quarter. Vanguard Group Inc. grew its position in Globe Life by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock worth $1,411,311,000 after purchasing an additional 86,349 shares during the period. Finally, Handelsbanken Fonder AB grew its position in Globe Life by 23.1% during the 4th quarter. Handelsbanken Fonder AB now owns 75,235 shares of the company’s stock worth $10,522,000 after purchasing an additional 14,135 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Down 0.0%

Shares of GL opened at $171.07 on Monday. The firm has a market cap of $13.15 billion, a P/E ratio of 11.36 and a beta of 0.48. Globe Life Inc. has a 12 month low of $127.85 and a 12 month high of $191.55. The stock’s 50 day moving average is $178.36 and its two-hundred day moving average is $158.62. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company earned $3.05 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

Globe Life announced that its board has initiated a stock buyback program on Monday, August 10th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 17.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Globe Life Announces Dividend

The business 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 $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s payout ratio is presently 8.76%.

Insider Activity at Globe Life

In other news, EVP Michael Clay Majors sold 37,000 shares of Globe Life stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total value of $6,609,680.00. Following the sale, the executive vice president owned 53,518 shares in the company, valued at $9,560,455.52. This trade represents a 40.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank M. Svoboda sold 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the sale, the chief executive officer directly owned 54,020 shares of the company’s stock, valued at $9,004,053.60. This represents a 15.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 151,908 shares of company stock valued at $27,239,981 in the last three months. Company insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group lifted 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. TD Cowen raised their target price on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Piper Sandler boosted their price target on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods decreased their price target on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus 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.