Corient Private Wealth LLC Sells 94,776 Shares of Globe Life Inc. $GL

Key Points

• Corient Private Wealth LLC cut its Globe Life stake by 35.6% in the fourth quarter, selling 94,776 shares and leaving it with 171,286 shares valued at about $24.2 million.
• Globe Life reported Q1 earnings of $3.43 per share, slightly below analyst expectations, while revenue came in line at $1.56 billion and rose 5.3% year over year.
• The company also announced a quarterly dividend of $0.33 per share, and analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $174.11.

Corient Private Wealth LLC reduced its stake in Globe Life Inc. (NYSE:GL - Free Report) by 35.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 171,286 shares of the company's stock after selling 94,776 shares during the quarter. Corient Private Wealth LLC owned 0.22% of Globe Life worth $24,170,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC bought a new stake in Globe Life in the fourth quarter worth about $30,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Globe Life during the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life in the 2nd quarter worth approximately $31,000. Torren Management LLC bought a new stake in shares of Globe Life in the 4th quarter worth approximately $37,000. Finally, Banque Cantonale Vaudoise purchased a new position in Globe Life in the third quarter valued at approximately $50,000. Institutional investors own 81.61% of the company's stock.

Globe Life Stock Up 0.8%

GL stock opened at $172.07 on Tuesday. The stock has a 50-day simple moving average of $155.99 and a two-hundred day simple moving average of $146.14. Globe Life Inc. has a twelve month low of $116.73 and a twelve month high of $175.63. The firm has a market capitalization of $13.36 billion, a PE ratio of 11.90 and a beta of 0.49. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.38.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing analysts' consensus estimates of $3.46 by ($0.03). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. Globe Life's revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.07 earnings per share. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. On average, equities analysts predict that Globe Life Inc. will post 15.64 EPS for the current fiscal year.

Globe Life Announces Dividend

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

Insider Activity at Globe Life

In other news, CFO Thomas Peter Kalmbach sold 15,637 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $153.65, for a total transaction of $2,402,625.05. Following the transaction, the chief financial officer directly owned 45,335 shares in the company, valued at approximately $6,965,722.75. This represents a 25.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 20,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $156.68, for a total transaction of $3,133,600.00. Following the transaction, the chief executive officer owned 54,020 shares in the company, valued at $8,463,853.60. The trade was a 27.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,929 shares of company stock valued at $18,049,250 in the last ninety days. 2.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods reissued a "moderate buy" rating and issued a $168.00 price objective on shares of Globe Life in a report on Thursday, March 26th. Truist Financial upped their price objective on shares of Globe Life from $180.00 to $185.00 and gave the company a "buy" rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 13th. Piper Sandler lifted their target price on shares of Globe Life from $167.00 to $175.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company boosted their price target on shares of Globe Life from $171.00 to $172.00 and gave the company an "overweight" rating in a research report on Friday, April 10th. One investment 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 company's stock. According to MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and a consensus price target 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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