Wealthfront Advisers LLC Purchases New Stake in Globe Life Inc. $GL

Wealthfront Advisers LLC acquired a new position in shares of Globe Life Inc. (NYSE:GL) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 48,352 shares of the company’s stock, valued at approximately $8,640,000.

Several other large investors have also recently bought and sold shares of the business. CYBER HORNET ETFs LLC acquired a new stake in Globe Life in the second quarter valued at $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of Globe Life during the 4th quarter worth $30,000. MUFG Securities EMEA plc acquired a new position in shares of Globe Life during the 2nd quarter worth $31,000. Torren Management LLC purchased a new position in shares of Globe Life in the 4th quarter valued at about $37,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of Globe Life by 41.1% in the 1st quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock valued at $44,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling

In other Globe Life news, CEO James Matthew Darden sold 50,000 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $182.43, for a total value of $9,121,500.00. Following the sale, the chief executive officer owned 58,451 shares of the company’s stock, valued at $10,663,215.93. This represents a 46.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. This trade represents a 15.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 179,844 shares of company stock valued at $31,616,279. 2.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on GL shares. Wells Fargo & Company raised their price objective on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Jefferies Financial Group upped their target price 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. Piper Sandler increased their target price on shares of Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Truist Financial lifted their price target on shares of Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus target price of $191.67.

Globe Life Trading Down 3.6%

Shares of GL stock opened at $171.74 on Thursday. The stock has a market cap of $13.20 billion, a P/E ratio of 11.40 and a beta of 0.48. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a fifty-two week low of $127.85 and a fifty-two week high of $191.55. The business has a fifty day simple moving average of $178.16 and a 200-day simple moving average of $158.21.

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

Globe Life declared that its board has authorized a share buyback program on Monday, August 10th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders 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 yield of 0.8%. Globe Life’s payout ratio is presently 8.76%.

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.