5,256 Shares in Globe Life Inc. $GL Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC acquired a new position in Globe Life Inc. (NYSE:GL) during the 2nd quarter, HoldingsChannel reports. The fund acquired 5,256 shares of the company’s stock, valued at approximately $939,000.

Other hedge funds have also made changes to their positions in the company. Great Lakes Advisors LLC purchased a new position in shares of Globe Life in the second quarter valued at approximately $10,586,000. Danske Bank A S purchased a new stake in shares of Globe Life during the second quarter worth approximately $107,000. Wealthfront Advisers LLC purchased a new stake in shares of Globe Life during the second quarter worth approximately $8,640,000. Equity Investment Corp acquired a new position in Globe Life in the 2nd quarter valued at $122,971,000. Finally, Pzena Investment Management LLC acquired a new position in Globe Life in the 2nd quarter valued at $242,256,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Transactions at Globe Life

In related news, CFO Thomas Peter Kalmbach sold 21,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $180.06, for a total transaction of $3,781,260.00. Following the completion of the sale, the chief financial officer directly owned 50,568 shares in the company, valued at approximately $9,105,274.08. This trade represents a 29.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Matthew Darden sold 50,000 shares of Globe Life 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 transaction, the chief executive officer directly owned 58,451 shares in the company, valued at $10,663,215.93. This trade represents a 46.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 151,908 shares of company stock valued at $27,239,981 in the last three months. 2.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen lifted their target price on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley increased their target price on shares of Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Jefferies Financial Group raised their price target on shares of Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Weiss Ratings lowered shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $191.67.

Globe Life Stock Performance

Shares of Globe Life stock opened at $171.07 on Friday. The business’s 50 day moving average price is $178.36 and its 200 day moving average price is $158.52. The company has a market cap of $13.15 billion, a price-to-earnings ratio of 11.36 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. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55.

Globe Life (NYSE:GL) last issued its earnings results 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). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company earned $3.05 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. On average, research analysts predict that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life announced that its board has approved a stock buyback plan on Monday, August 10th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 17.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be issued a $0.33 dividend. The ex-dividend date of this dividend 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 is currently 8.76%.

Globe Life Company 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.