Strive Financial Group LLC Sells 9,815 Shares of Globe Life Inc. $GL

Key Points

• Strive Financial Group cut its Globe Life position by 80.2%, selling 9,815 shares and retaining 2,429 shares worth approximately $434,000. Institutional investors collectively own 81.61% of the company.
• Analysts maintain a generally positive view of Globe Life, with a consensus rating of “Moderate Buy” and an average price target of $191.67. Recent target increases ranged from $193 to $225.
• Globe Life authorized a $2.5 billion share-repurchase program covering up to 17.7% of its shares and declared a quarterly dividend of $0.33. Separately, company insiders sold 151,908 shares worth approximately $27.2 million over the past 90 days.

Strive Financial Group LLC decreased its position in Globe Life Inc. (NYSE:GL - Free Report) by 80.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,429 shares of the company's stock after selling 9,815 shares during the period. Strive Financial Group LLC's holdings in Globe Life were worth $434,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CYBER HORNET ETFs LLC bought a new stake in Globe Life during the second quarter worth $28,000. Hilton Head Capital Partners LLC bought a new position in Globe Life in the 4th quarter valued at $30,000. MUFG Securities EMEA plc bought a new position in Globe Life in the 2nd quarter valued at $31,000. Johnson Financial Group Inc. purchased a new stake in shares of Globe Life during the 2nd quarter valued at $39,000. Finally, AdvisorNet Financial Inc increased its position in shares of Globe Life by 41.1% during the 1st quarter. AdvisorNet Financial Inc now owns 316 shares of the company's stock valued at $44,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Analysts Set New Price Targets

GL has been the topic of a number of recent analyst reports. TD Cowen lifted their target price on Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods decreased their price objective on shares of Globe Life from $192.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $181.00 to $201.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Wells Fargo & Company boosted their target price on shares of Globe Life from $172.00 to $193.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Piper Sandler increased their target price on shares of Globe Life from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $191.67.

Insider Buying and Selling

In related news, CEO James Darden sold 50,000 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the sale, the chief executive officer directly owned 58,451 shares in the company, valued at approximately $10,663,215.93. The trade was a 46.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Majors sold 37,000 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total value of $6,609,680.00. Following the sale, the executive vice president directly owned 53,518 shares in the company, valued at $9,560,455.52. This trade represents a 40.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 151,908 shares of company stock valued at $27,239,981 in the last 90 days. Corporate insiders own 2.11% of the company's stock.

Globe Life Price Performance

NYSE GL opened at $174.15 on Friday. The company has a market cap of $13.38 billion, a PE ratio of 11.56 and a beta of 0.46. Globe Life Inc. has a 52 week low of $127.85 and a 52 week high of $191.55. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. The firm's 50-day simple moving average is $178.54 and its two-hundred day simple moving average is $160.60.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the previous year, the business earned $3.05 EPS. Globe Life's revenue for the quarter was up 8.0% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Research analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be given a $0.33 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Globe Life's payout ratio is 8.76%.

Globe Life declared that its board has approved a share repurchase plan on Monday, August 10th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

About Globe Life

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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