Prudential PLC Takes $1.43 Million Position in Globe Life Inc. $GL

Prudential PLC purchased a new stake in shares of Globe Life Inc. (NYSE:GL) during the 4th quarter, Holdings Channel.com reports. The fund purchased 10,217 shares of the company’s stock, valued at approximately $1,429,000.

Other hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH raised its holdings in Globe Life by 55.2% in the third quarter. Allianz Asset Management GmbH now owns 82,263 shares of the company’s stock worth $11,761,000 after purchasing an additional 29,256 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Globe Life by 5.6% during the third quarter. Pzena Investment Management LLC now owns 998,506 shares of the company’s stock worth $142,756,000 after acquiring an additional 52,523 shares during the period. SG Americas Securities LLC raised its holdings in shares of Globe Life by 909.6% during the fourth quarter. SG Americas Securities LLC now owns 99,746 shares of the company’s stock worth $13,950,000 after acquiring an additional 89,866 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Globe Life during the third quarter worth $7,348,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Globe Life by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 247,947 shares of the company’s stock worth $35,449,000 after acquiring an additional 24,785 shares during the period. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

Shares of GL stock opened at $159.28 on Monday. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 11.02 and a beta of 0.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07. The company has a 50-day simple moving average of $150.46 and a 200 day simple moving average of $143.52. Globe Life Inc. has a 52 week low of $116.73 and a 52 week high of $159.36.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.46 by ($0.03). The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.07 EPS. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. On average, sell-side analysts predict that Globe Life Inc. will post 15.62 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Globe Life’s payout ratio is presently 9.13%.

Analysts Set New Price Targets

A number of brokerages recently commented on GL. Wells Fargo & Company raised their price objective on shares of Globe Life from $171.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Evercore set a $157.00 price objective on shares of Globe Life in a report on Wednesday, February 18th. Keefe, Bruyette & Woods restated a “moderate buy” rating and set a $168.00 price objective on shares of Globe Life in a report on Thursday, March 26th. Morgan Stanley raised their price objective on shares of Globe Life from $176.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Finally, Truist Financial raised their price objective on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 24th. One equities research 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 company’s stock. Based on data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average price target of $174.11.

Insider Activity at Globe Life

In related news, CFO Thomas Peter Kalmbach sold 7,936 shares of Globe Life stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $156.59, for a total transaction of $1,242,698.24. Following the completion of the sale, the chief financial officer owned 50,496 shares of the company’s stock, valued at approximately $7,907,168.64. The trade was a 13.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Clay Majors sold 34,000 shares of Globe Life stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $153.81, for a total transaction of $5,229,540.00. Following the sale, the executive vice president directly owned 53,518 shares of the company’s stock, valued at $8,231,603.58. The trade was a 38.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 105,929 shares of company stock worth $16,382,450. 2.11% of the stock is currently owned by corporate insiders.

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.