Daiwa Securities Group Inc. Cuts Stake in Globe Life Inc. $GL

Daiwa Securities Group Inc. lessened its stake in Globe Life Inc. (NYSE:GL) by 43.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,918 shares of the company’s stock after selling 5,275 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Globe Life were worth $1,236,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new stake in Globe Life in the 2nd quarter worth $28,000. Hilton Head Capital Partners LLC purchased a new position in shares of Globe Life during the fourth quarter valued at about $30,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life in the second quarter worth about $31,000. Torren Management LLC purchased a new stake in shares of Globe Life in the fourth quarter worth about $37,000. Finally, AdvisorNet Financial Inc lifted its position in shares of Globe Life by 41.1% in the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock worth $44,000 after buying an additional 92 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GL shares. Truist Financial lifted their price objective on Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. 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. Keefe, Bruyette & Woods reduced their price target on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Jefferies Financial Group upped their price target on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average price target of $191.67.

Globe Life Price Performance

Shares of Globe Life stock opened at $180.87 on Friday. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 12.01 and a beta of 0.48. 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 stock has a 50 day moving average price of $177.16 and a 200-day moving average price of $157.27. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55.

Globe Life (NYSE:GL) last released its quarterly 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). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities analysts expect that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life Dividend Announcement

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

Globe Life declared that its board has initiated a share buyback plan on Monday, August 10th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the company to buy up to 17.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Globe Life

In related news, CFO Thomas Peter Kalmbach sold 21,000 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 50,568 shares of the company’s stock, valued at $9,105,274.08. This represents a 29.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Clay Majors sold 37,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the completion of the sale, the executive vice president directly owned 53,518 shares of the company’s stock, valued at approximately $9,560,455.52. The trade was a 40.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 191,747 shares of company stock worth $33,480,408. 2.11% of the stock is currently owned by 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.