Lazard Asset Management LLC Invests $417,000 in Globe Life Inc. $GL

Lazard Asset Management LLC bought a new stake in shares of Globe Life Inc. (NYSE:GL) in the first quarter, Holdings Channel.com reports. The fund bought 2,997 shares of the company’s stock, valued at approximately $417,000.

Other hedge funds have also recently made changes to their positions in the company. Hilton Head Capital Partners LLC purchased a new stake in Globe Life in the 4th quarter valued at about $30,000. CYBER HORNET ETFs LLC purchased a new position in shares of Globe Life during the second quarter worth approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life during the second quarter valued at approximately $31,000. Torren Management LLC bought a new stake in shares of Globe Life during the fourth quarter valued at approximately $37,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Globe Life by 41.1% in the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock valued at $44,000 after purchasing an additional 92 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance

NYSE GL opened at $183.53 on Friday. The company has a market cap of $14.10 billion, a PE ratio of 12.19 and a beta of 0.48. The firm’s 50 day moving average price is $174.45 and its 200-day moving average price is $155.77. 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 52-week low of $127.85 and a 52-week high of $191.55.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Sell-side analysts forecast that Globe Life Inc. will post 15.7 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be issued a $0.33 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.7%. Globe Life’s dividend payout ratio (DPR) is currently 8.76%.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $156.68, for a total transaction of $3,133,600.00. Following the sale, the chief executive officer owned 54,020 shares of the company’s stock, valued at $8,463,853.60. This trade represents a 27.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Matthew Darden sold 50,000 shares of Globe Life 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 completion of the transaction, the chief executive officer owned 58,451 shares in the company, valued at $10,663,215.93. This trade represents a 46.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 207,384 shares of company stock worth $35,883,033. Insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the topic of several research analyst reports. Morgan Stanley increased their price objective on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods decreased their target price on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Jefferies Financial Group upped their target price on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, July 10th. TD Cowen increased their price target on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company raised their price target on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.67.

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.