James Matthew Darden Sells 50,000 Shares of Globe Life (NYSE:GL) Stock

Globe Life Inc. (NYSE:GL) CEO James Matthew Darden sold 50,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the completion of the transaction, the chief executive officer directly owned 58,451 shares in the company, valued at approximately $10,663,215.93. This represents a 46.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Globe Life Stock Performance

GL opened at $184.08 on Wednesday. Globe Life Inc. has a twelve month low of $127.85 and a twelve month high of $191.55. The firm has a market capitalization of $14.29 billion, a PE ratio of 12.22 and a beta of 0.48. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $172.62 and its 200 day moving average price is $154.94.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). Globe Life had a net margin of 19.58% and a return on equity of 20.73%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company posted $3.05 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, sell-side analysts expect that Globe Life Inc. will post 15.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on GL. Morgan Stanley increased their price target on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Jefferies Financial Group upped their target price on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Truist Financial raised their target price on Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. TD Cowen boosted their price target on shares of Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. One 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Globe Life in the 4th quarter valued at $155,617,000. Northwestern Mutual Wealth Management Co. lifted its stake in Globe Life by 34,786.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company’s stock worth $123,345,000 after acquiring an additional 879,391 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Globe Life by 98.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock valued at $174,340,000 after acquiring an additional 696,548 shares during the period. Balyasny Asset Management L.P. purchased a new position in Globe Life during the 3rd quarter valued at about $80,925,000. Finally, Ascentis Wealth Management LLC grew its position in Globe Life by 23,840.4% in the 2nd quarter. Ascentis Wealth Management LLC now owns 381,131 shares of the company’s stock valued at $68,100,000 after acquiring an additional 379,539 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.