Magnetar Financial LLC Reduces Holdings in Globe Life Inc. $GL

Magnetar Financial LLC reduced its holdings in shares of Globe Life Inc. (NYSE:GL) by 18.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 32,873 shares of the company’s stock after selling 7,562 shares during the period. Magnetar Financial LLC’s holdings in Globe Life were worth $4,598,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GL. Norges Bank purchased a new position in Globe Life during the 4th quarter valued at about $155,617,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Globe Life by 34,786.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company’s stock worth $123,345,000 after buying an additional 879,391 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Globe Life by 98.6% during the second quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock worth $174,340,000 after buying an additional 696,548 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Globe Life during the third quarter worth about $80,925,000. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Globe Life during the third quarter worth about $61,569,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GL. Wells Fargo & Company lifted their price target on shares of Globe Life from $171.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Evercore set a $157.00 price target on shares of Globe Life in a report on Wednesday, February 18th. Truist Financial lifted their price target on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Piper Sandler lifted their price target on shares of Globe Life from $167.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Texas Capital upgraded shares of Globe Life to a “strong-buy” rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.11.

Globe Life Price Performance

Globe Life stock opened at $169.07 on Wednesday. Globe Life Inc. has a 1 year low of $116.73 and a 1 year high of $170.11. The firm has a 50 day moving average price of $153.91 and a 200 day moving average price of $145.06. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 11.69 and a beta of 0.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07.

Globe Life (NYSE:GL) last released its 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). Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the firm posted $3.07 earnings per share. Globe Life’s revenue for the quarter was up 5.3% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. Sell-side analysts predict that Globe Life Inc. will post 15.64 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, July 6th. Globe Life’s payout ratio is presently 9.13%.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were 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 in the company, valued at approximately $9,004,053.60. The trade was a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 4,663 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $153.88, for a total transaction of $717,542.44. Following the completion of the sale, the chief executive officer owned 58,451 shares of the company’s stock, valued at approximately $8,994,439.88. The trade was a 7.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,929 shares of company stock valued at $18,049,250 in the last ninety days. 2.11% of the stock is owned by company insiders.

Globe Life 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.