Globe Life Inc. $GL Shares Sold by Pzena Investment Management LLC

Key Points

• Pzena Investment Management trimmed its Globe Life stake by 2.2% in the fourth quarter, but still held 976,047 shares worth about $136.5 million.
• Insiders also sold shares, including CEO James Matthew Darden and EVP Michael Clay Majors; insiders sold 106,550 shares valued at roughly $16.1 million over the last three months.
• Globe Life reported mixed quarterly results with EPS of $3.43, slightly below estimates, while revenue matched expectations at $1.56 billion. The company also announced a quarterly dividend of $0.33 per share, and analysts still view the stock favorably with an average Buy rating and $173.22 target price.

Pzena Investment Management LLC reduced its position in Globe Life Inc. (NYSE:GL - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 976,047 shares of the company's stock after selling 22,459 shares during the period. Pzena Investment Management LLC owned about 1.23% of Globe Life worth $136,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new stake in Globe Life during the second quarter worth $28,000. MUFG Securities EMEA plc purchased a new position in Globe Life in the second quarter valued at $31,000. Torren Management LLC purchased a new position in Globe Life in the fourth quarter valued at $37,000. Root Financial Partners LLC purchased a new position in Globe Life in the third quarter valued at $44,000. Finally, Banque Cantonale Vaudoise purchased a new position in Globe Life in the third quarter valued at $50,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globe Life

In other news, CEO James Matthew Darden sold 4,663 shares of the business'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 sale, the chief executive officer owned 58,451 shares of the company's stock, valued at $8,994,439.88. The trade was a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Clay Majors sold 34,000 shares of the business's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $153.81, for a total transaction of $5,229,540.00. Following the sale, the executive vice president directly owned 53,518 shares of the company's stock, valued at $8,231,603.58. This represents a 38.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 106,550 shares of company stock worth $16,140,745 over the last three months. Company insiders own 2.11% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on GL. Evercore set a $157.00 price objective on shares of Globe Life in a report on Wednesday, February 18th. Wells Fargo & Company lifted their price objective on shares of Globe Life from $171.00 to $172.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Keefe, Bruyette & Woods reaffirmed a "moderate buy" rating and issued a $168.00 price objective on shares of Globe Life in a report on Thursday, March 26th. Weiss Ratings raised shares of Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $180.00 to $181.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Globe Life has an average rating of "Buy" and an average target price of $173.22.

Globe Life Stock Up 1.3%

GL stock opened at $156.45 on Friday. The stock has a market capitalization of $12.15 billion, a P/E ratio of 10.82 and a beta of 0.50. The firm has a 50-day simple moving average of $146.93 and a 200-day simple moving average of $141.81. 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 Inc. has a 52 week low of $116.73 and a 52 week high of $157.92.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing analysts' consensus estimates of $3.46 by ($0.03). The company had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.56 billion. Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.07 EPS. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. Equities analysts forecast that Globe Life Inc. will post 15.56 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life's payout ratio is currently 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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