Bank of America Corp DE Lowers Stock Position in Globe Life Inc. $GL

Key Points

• Bank of America reduced its Globe Life position by 7.2% in the first quarter, selling 49,570 shares and retaining 641,343 shares valued at approximately $89.3 million. Institutional investors collectively own 81.61% of the company.
• Analysts remain broadly positive, with Globe Life carrying a “Moderate Buy” consensus rating and an average price target of $191.67. Recent target increases included TD Cowen at $225, Morgan Stanley at $208 and Wells Fargo at $193.
• Globe Life reported quarterly revenue of $1.60 billion, up 8% year over year, although EPS of $3.61 fell short of estimates. The company announced a quarterly dividend of $0.33 per share, while insiders sold more than $35.9 million of stock over the past three months.

Bank of America Corp DE decreased its position in Globe Life Inc. (NYSE:GL - Free Report) by 7.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 641,343 shares of the company's stock after selling 49,570 shares during the period. Bank of America Corp DE owned about 0.83% of Globe Life worth $89,256,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Globe Life by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company's stock valued at $1,411,311,000 after purchasing an additional 86,349 shares in the last quarter. Invesco Ltd. boosted its position in Globe Life by 2.7% during the fourth quarter. Invesco Ltd. now owns 3,948,676 shares of the company's stock worth $552,262,000 after purchasing an additional 102,445 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Globe Life by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company's stock worth $327,479,000 after purchasing an additional 217,331 shares in the last quarter. Morgan Stanley grew its holdings in Globe Life by 7.2% in the fourth quarter. Morgan Stanley now owns 1,860,257 shares of the company's stock valued at $260,176,000 after purchasing an additional 125,567 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Globe Life by 32.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,435,247 shares of the company's stock valued at $200,734,000 after purchasing an additional 355,399 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price target on shares of Globe Life from $181.00 to $208.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Weiss Ratings downgraded shares of Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, July 20th. 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 research report on Thursday, July 9th. TD Cowen boosted 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. Finally, Jefferies Financial Group upped their price target on shares of Globe Life from $147.00 to $166.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $191.67.

Globe Life Price Performance

Shares of GL stock opened at $183.53 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market capitalization of $14.10 billion, a PE ratio of 12.19 and a beta of 0.48. The firm's 50-day moving average is $174.45 and its two-hundred day moving average is $155.77. Globe Life Inc. has a 12 month low of $127.85 and a 12 month high of $191.55.

Globe Life (NYSE:GL - Get Free Report) last posted 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). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.Globe Life's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Analysts predict that Globe Life Inc. will post 15.7 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, October 30th. Investors of record on Monday, October 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, October 5th. Globe Life's dividend payout ratio (DPR) is 8.76%.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 10,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $166.68, for a total value of $1,666,800.00. Following the sale, the chief executive officer owned 54,020 shares of the company's stock, valued at $9,004,053.60. The trade was a 15.62% 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 the company's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $182.43, for a total value of $9,121,500.00. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 207,384 shares of company stock worth $35,883,033 in the last three months. Company insiders own 2.11% of the company's stock.

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.

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