First Trust Advisors LP Boosts Position in Globe Life Inc. $GL

First Trust Advisors LP raised its stake in Globe Life Inc. (NYSE:GL) by 45.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 305,963 shares of the company’s stock after purchasing an additional 95,677 shares during the period. First Trust Advisors LP’s holdings in Globe Life were worth $43,743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH boosted its position in shares of Globe Life by 55.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 82,263 shares of the company’s stock valued at $11,761,000 after purchasing an additional 29,256 shares during the period. Synergy Asset Management LLC grew its stake in Globe Life by 1,022.7% during the 3rd quarter. Synergy Asset Management LLC now owns 100,603 shares of the company’s stock worth $14,240,000 after buying an additional 91,642 shares during the last quarter. Retirement Systems of Alabama acquired a new position in Globe Life during the third quarter worth approximately $2,470,000. SteelPeak Wealth LLC purchased a new stake in Globe Life in the third quarter valued at approximately $2,985,000. Finally, Pzena Investment Management LLC lifted its stake in Globe Life by 5.6% in the third quarter. Pzena Investment Management LLC now owns 998,506 shares of the company’s stock valued at $142,756,000 after buying an additional 52,523 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Activity at Globe Life

In other news, EVP Michael Clay Majors sold 30,000 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $146.89, for a total transaction of $4,406,700.00. Following the transaction, the executive vice president directly owned 47,066 shares in the company, valued at $6,913,524.74. The trade was a 38.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Matthew Darden sold 18,318 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $145.10, for a total transaction of $2,657,941.80. Following the transaction, the chief executive officer owned 51,093 shares in the company, valued at approximately $7,413,594.30. This trade represents a 26.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 92,186 shares of company stock worth $13,358,379 in the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

GL has been the subject of several research analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $176.00 price objective on shares of Globe Life in a report on Monday, December 15th. TD Cowen reiterated a “buy” rating on shares of Globe Life in a research report on Thursday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $167.00 price target on shares of Globe Life in a research note on Friday, November 21st. Truist Financial raised their price objective on shares of Globe Life from $158.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Weiss Ratings upgraded shares of Globe Life from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.33.

Globe Life Trading Down 1.3%

Shares of GL stock opened at $141.02 on Thursday. The business’s 50 day moving average is $142.09 and its two-hundred day moving average is $139.02. Globe Life Inc. has a twelve month low of $109.38 and a twelve month high of $152.71. The company has a market capitalization of $11.09 billion, a P/E ratio of 10.02 and a beta of 0.46. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.39.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 4th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.05). Globe Life had a net margin of 19.37% and a return on equity of 21.30%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the firm posted $3.14 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 14.950-15.650 EPS. Equities analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 3rd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.32 annualized dividend and a yield of 0.9%. This is an increase from Globe Life’s previous quarterly dividend of $0.27. Globe Life’s dividend payout ratio is presently 9.38%.

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.