Legal & General Group Plc raised its position in Globe Life Inc. (NYSE:GL - Free Report) by 11.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 178,297 shares of the company's stock after buying an additional 18,104 shares during the period. Legal & General Group Plc owned about 0.22% of Globe Life worth $24,937,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new position in Globe Life in the second quarter valued at about $28,000. MUFG Securities EMEA plc bought a new position in shares of Globe Life in the 2nd quarter valued at about $31,000. Torren Management LLC acquired a new stake in shares of Globe Life during the 4th quarter worth approximately $37,000. Banque Cantonale Vaudoise bought a new stake in shares of Globe Life during the third quarter worth approximately $50,000. Finally, Center for Financial Planning Inc. bought a new position in Globe Life in the third quarter valued at approximately $51,000. Institutional investors own 81.61% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. 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. Truist Financial upped 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. JPMorgan Chase & Co. increased their target price on Globe Life from $180.00 to $181.00 and gave the company an "overweight" rating in a research note on Thursday, February 5th. Piper Sandler boosted their target price on Globe Life from $167.00 to $175.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company upped their price target on Globe Life from $171.00 to $172.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $174.11.
Check Out Our Latest Report on GL
Globe Life Price Performance
Shares of GL opened at $153.46 on Monday. The stock has a 50 day simple moving average of $148.85 and a 200 day simple moving average of $142.77. Globe Life Inc. has a 52-week low of $116.73 and a 52-week high of $157.92. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market capitalization of $11.91 billion, a PE ratio of 10.61 and a beta of 0.49.
Globe Life (NYSE:GL - Get Free Report) last released 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 net margin of 19.38% and a return on equity of 20.94%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company earned $3.07 EPS. The firm's quarterly revenue 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. Sell-side analysts predict that Globe Life Inc. will post 15.62 EPS for the current fiscal year.
Globe Life Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, July 6th. Globe Life's payout ratio is 9.13%.
Insider Transactions at Globe Life
In related news, EVP Michael Clay Majors sold 34,000 shares of the 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 completion of the transaction, the executive vice president directly owned 53,518 shares in the company, valued at approximately $8,231,603.58. This trade represents a 38.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 4,663 shares of Globe Life stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $153.88, for a total value of $717,542.44. Following the completion of the sale, the chief executive officer directly owned 58,451 shares in the company, valued at approximately $8,994,439.88. This represents a 7.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 124,247 shares of company stock valued at $19,040,392. 2.11% of the stock is currently owned by company insiders.
About Globe Life
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Free Report)
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.
See Also
Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL - Free Report).
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