Geode Capital Management LLC Cuts Stock Position in Globe Life Inc. $GL

Key Points

• Geode Capital Management trimmed its Globe Life stake by 0.5% in the fourth quarter, but still held 2.71 million shares worth about $378.4 million as of its latest filing.
• Analysts remain mostly positive on Globe Life, with a consensus rating of “Moderate Buy” and an average price target of $174.11 after several firms raised their targets.
• Globe Life reported Q1 EPS of $3.43, slightly below estimates, while revenue matched expectations at $1.56 billion; the company also declared a $0.33 quarterly dividend payable July 31.

Geode Capital Management LLC cut its position in Globe Life Inc. (NYSE:GL - Free Report) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,709,102 shares of the company's stock after selling 12,578 shares during the period. Geode Capital Management LLC owned 3.40% of Globe Life worth $378,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 worth $1,237,000 after acquiring an additional 607 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Globe Life by 368.1% in the first quarter. NewEdge Advisors LLC now owns 6,806 shares of the company's stock worth $897,000 after acquiring an additional 5,352 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Globe Life by 11.5% in the first quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company's stock worth $74,161,000 after acquiring an additional 58,163 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Globe Life in the first quarter worth approximately $428,000. Finally, Focus Partners Wealth boosted its stake in shares of Globe Life by 8.3% in the first quarter. Focus Partners Wealth now owns 8,559 shares of the company's stock worth $1,127,000 after acquiring an additional 656 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Globe Life from $171.00 to $172.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Evercore set a $157.00 target price on Globe Life in a research report on Wednesday, February 18th. Piper Sandler lifted their target price on Globe Life from $167.00 to $175.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods reiterated a "moderate buy" rating and issued a $168.00 price objective on shares of Globe Life in a report on Thursday, March 26th. Finally, Truist Financial boosted their price objective on Globe Life from $180.00 to $185.00 and gave the company a "buy" rating in a report on Friday, April 24th. One investment 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $174.11.

Insider Buying and Selling

In other Globe Life news, CEO James Matthew Darden sold 4,663 shares of the company's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $153.88, for a total transaction of $717,542.44. Following the sale, the chief executive officer owned 58,451 shares in the company, valued at $8,994,439.88. This represents a 7.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Clay Majors sold 34,000 shares of the company's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $153.81, for a total value of $5,229,540.00. Following the sale, the executive vice president owned 53,518 shares in the company, valued at approximately $8,231,603.58. This trade represents a 38.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 124,247 shares of company stock worth $19,040,392 in the last quarter. Company insiders own 2.11% of the company's stock.

Globe Life Price Performance

Shares of NYSE GL opened at $153.46 on Monday. The stock's 50-day moving average is $148.85 and its two-hundred day moving average is $142.77. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life Inc. has a 1-year low of $116.73 and a 1-year high of $157.92. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 10.61 and a beta of 0.49.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $3.46 by ($0.03). Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The company had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter last year, the company earned $3.07 EPS. Globe Life's revenue for the quarter was up 5.3% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. Analysts forecast that Globe Life Inc. will post 15.62 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued 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 0.9%. Globe Life's dividend payout ratio is 9.13%.

Globe Life Company 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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