Globe Life (NYSE:GL) EVP Sells $1,700,700.00 in Stock

Globe Life Inc. (NYSE:GL) EVP Robert Hensley sold 10,000 shares of Globe Life stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $170.07, for a total value of $1,700,700.00. Following the sale, the executive vice president directly owned 12,384 shares in the company, valued at $2,106,146.88. This trade represents a 44.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Globe Life Trading Down 0.1%

GL stock opened at $167.13 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life Inc. has a 1-year low of $127.85 and a 1-year high of $191.55. The business has a 50 day simple moving average of $175.95 and a two-hundred day simple moving average of $163.40. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 11.10 and a beta of 0.46.

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

Globe Life declared that its Board of Directors has authorized a share buyback plan on Monday, August 10th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to reacquire up to 17.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is presently 8.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GL shares. Keefe, Bruyette & Woods dropped their price target 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 raised Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 18th. Piper Sandler upped their price objective on Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Morgan Stanley raised their target price on shares of Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Finally, Jefferies Financial Group boosted their price target on shares of Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.67.

Institutional Investors Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Globe Life in the second quarter worth $987,901,000. State Street Corp grew its holdings in shares of Globe Life by 2.1% during the second quarter. State Street Corp now owns 3,735,409 shares of the company’s stock valued at $667,443,000 after buying an additional 76,745 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Globe Life by 10.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock valued at $327,479,000 after acquiring an additional 217,331 shares during the period. Pzena Investment Management LLC acquired a new position in shares of Globe Life in the 2nd quarter valued at $242,256,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Globe Life by 32.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,435,247 shares of the company’s stock worth $200,734,000 after acquiring an additional 355,399 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

About Globe Life

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company’s principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.