SteelPeak Wealth LLC Purchases 6,736 Shares of Globe Life Inc. $GL

SteelPeak Wealth LLC increased its position in Globe Life Inc. (NYSE:GL) by 34.8% in the first quarter, HoldingsChannel reports. The firm owned 26,069 shares of the company’s stock after purchasing an additional 6,736 shares during the quarter. SteelPeak Wealth LLC’s holdings in Globe Life were worth $3,628,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Illinois Municipal Retirement Fund raised its holdings in Globe Life by 4.4% in the first quarter. Illinois Municipal Retirement Fund now owns 46,856 shares of the company’s stock worth $6,521,000 after purchasing an additional 1,969 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Globe Life during the 1st quarter valued at $521,000. Hillsdale Investment Management Inc. grew its position in shares of Globe Life by 17.9% in the 1st quarter. Hillsdale Investment Management Inc. now owns 10,550 shares of the company’s stock worth $1,468,000 after buying an additional 1,600 shares during the period. Principal Financial Group Inc. grew its position in shares of Globe Life by 9.9% in the 1st quarter. Principal Financial Group Inc. now owns 108,640 shares of the company’s stock worth $15,119,000 after buying an additional 9,761 shares during the period. Finally, Chicago Partners Investment Group LLC grew its position in shares of Globe Life by 35.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 4,552 shares of the company’s stock worth $689,000 after buying an additional 1,189 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on GL. Weiss Ratings raised shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. TD Cowen upped their price objective on shares of Globe Life from $199.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Jefferies Financial Group raised their target price 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. Wells Fargo & Company lifted their target price on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Truist Financial boosted their price target on Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research 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 three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.60.

Globe Life Stock Performance

GL stock opened at $184.09 on Friday. Globe Life Inc. has a 12-month low of $119.16 and a 12-month high of $184.56. The stock’s 50 day simple moving average is $165.87 and its 200 day simple moving average is $151.31. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $14.29 billion, a PE ratio of 12.73 and a beta of 0.47.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.46 by ($0.03). Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business earned $3.07 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, research analysts forecast that Globe Life Inc. will post 15.64 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, July 6th. This represents a $1.32 annualized dividend and a yield of 0.7%. Globe Life’s dividend payout ratio is currently 9.13%.

Insider Activity

In other news, CEO James Matthew Darden sold 4,663 shares of Globe Life stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $153.88, for a total value of $717,542.44. Following the completion of the sale, the chief executive officer directly owned 58,451 shares in the company, valued at $8,994,439.88. The trade was a 7.39% 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, EVP Michael Clay Majors sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $153.81, for a total transaction of $5,229,540.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 124,187 shares of company stock worth $19,529,414. 2.11% of the stock is 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.