Bank of New York Mellon Corp Sells 118,878 Shares of Globe Life Inc. $GL

Bank of New York Mellon Corp decreased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 17.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 569,816 shares of the company's stock after selling 118,878 shares during the quarter. Bank of New York Mellon Corp owned about 0.72% of Globe Life worth $79,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Globe Life by 6.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company's stock valued at $1,237,000 after buying an additional 607 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Globe Life by 368.1% in the first quarter. NewEdge Advisors LLC now owns 6,806 shares of the company's stock valued at $897,000 after buying an additional 5,352 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Globe Life by 11.5% in the first quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company's stock valued at $74,161,000 after buying an additional 58,163 shares in the last quarter. Empowered Funds LLC bought a new position in Globe Life in the first quarter valued at approximately $428,000. Finally, Focus Partners Wealth lifted its stake in Globe Life by 8.3% in the first quarter. Focus Partners Wealth now owns 8,559 shares of the company's stock valued at $1,127,000 after buying an additional 656 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Globe Life Price Performance

Shares of GL opened at $157.23 on Tuesday. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 10.87 and a beta of 0.49. Globe Life Inc. has a 1-year low of $116.73 and a 1-year high of $159.36. The company's fifty day simple moving average is $150.83 and its 200 day simple moving average is $143.70. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing analysts' consensus estimates of $3.46 by ($0.03). Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm posted $3.07 earnings per share. Globe Life'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. On average, research analysts forecast that Globe Life Inc. will post 15.62 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $0.33 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Globe Life's dividend payout ratio is 9.13%.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 20,000 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $156.68, for a total value of $3,133,600.00. Following the transaction, the chief executive officer directly owned 54,020 shares in the company, valued at approximately $8,463,853.60. This represents a 27.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Matthew Darden sold 4,663 shares of the company's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $153.88, for a total transaction of $717,542.44. Following the completion of the transaction, the chief executive officer owned 58,451 shares in the company, valued at $8,994,439.88. This trade represents a 7.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 105,929 shares of company stock valued at $16,382,450. 2.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GL has been the topic of a number of research reports. Texas Capital raised shares of Globe Life to a "strong-buy" rating in a research note on Wednesday, March 18th. Morgan Stanley lifted their price target on shares of Globe Life from $176.00 to $181.00 and gave the company an "overweight" rating in a research note on Thursday, May 21st. Piper Sandler lifted their price target on shares of Globe Life from $167.00 to $175.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Truist Financial boosted their price objective on shares of Globe Life from $180.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods reissued a "moderate buy" rating and issued a $168.00 price objective on shares of Globe Life in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Globe Life presently has a consensus rating of "Moderate Buy" and an average target price of $174.11.

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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