Summit Asset Management LLC Buys Shares of 5,659 Globe Life Inc. $GL

Key Points

• Summit Asset Management acquired 5,659 Globe Life shares in the second quarter, valued at approximately $1.01 million. Institutional investors and hedge funds collectively own 81.61% of the company.
• Globe Life reported quarterly revenue of $1.60 billion, up 8% year over year, but earnings of $3.61 per share fell short of the $3.67 consensus estimate. The company provided fiscal 2026 EPS guidance of $15.55 to $15.95.
• The board authorized a $2.5 billion stock-repurchase program, allowing buybacks of up to 17.7% of outstanding shares. Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $191.67.

Summit Asset Management LLC acquired a new stake in Globe Life Inc. (NYSE:GL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,659 shares of the company's stock, valued at approximately $1,011,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Globe Life by 6.9% in the 1st 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 period. NewEdge Advisors LLC grew its holdings in Globe Life by 368.1% in the first quarter. NewEdge Advisors LLC now owns 6,806 shares of the company's stock valued at $897,000 after purchasing an additional 5,352 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 valued at $74,161,000 after buying an additional 58,163 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Globe Life during the 1st quarter worth $428,000. Finally, Focus Partners Wealth boosted its position in shares of Globe Life by 8.3% in the 1st quarter. Focus Partners Wealth now owns 8,559 shares of the company's stock worth $1,127,000 after buying an additional 656 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Up 0.1%

GL stock opened at $180.87 on Friday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $177.16 and a 200-day simple moving average of $157.27. The company has a market capitalization of $13.90 billion, a P/E ratio of 12.01 and a beta of 0.48. Globe Life Inc. has a twelve month low of $127.85 and a twelve month high of $191.55.

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

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

Globe Life Announces Dividend

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 dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 0.7%. Globe Life's dividend payout ratio (DPR) is presently 8.76%.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 20,000 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $156.68, for a total value of $3,133,600.00. Following the completion of the sale, the chief executive officer directly owned 54,020 shares of the company's stock, valued at $8,463,853.60. The trade was a 27.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Matthew Darden sold 50,000 shares of Globe Life 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 completion of the transaction, the chief executive officer directly owned 58,451 shares of the company's stock, valued at approximately $10,663,215.93. This represents a 46.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 191,747 shares of company stock valued at $33,480,408. 2.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price 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. Morgan Stanley upped their target price on Globe Life from $181.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. TD Cowen boosted their price target on Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Jefferies Financial Group increased their price objective on Globe Life from $147.00 to $166.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Finally, 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. One investment 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $191.67.

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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