Globe Life (NYSE:GL) EVP Robert Edward Hensley Sells 10,000 Shares of Stock

Key Points

• Globe Life EVP Robert Hensley sold 10,000 shares at an average price of $170.07, generating $1.70 million. His remaining stake fell by 44.67% to 12,384 shares.
• Globe Life reported quarterly revenue of $1.60 billion, up 8% year over year, but EPS of $3.61 missed analysts’ $3.67 estimate. Shares recently traded around $170.70, while analysts maintain a “Moderate Buy” consensus and an average price target of $191.67.
• The company declared a quarterly dividend of $0.33 per share and authorized a $2.5 billion share-buyback program, permitting repurchases of up to 17.7% of outstanding stock.

Globe Life Inc. (NYSE:GL - Get Free Report) EVP Robert Hensley sold 10,000 shares of Globe Life stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the transaction, the executive vice president owned 12,384 shares in the company, valued at $2,106,146.88. The trade was a 44.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Globe Life Stock Up 0.7%

GL traded up $1.27 during trading on Wednesday, hitting $170.70. The company had a trading volume of 106,433 shares, compared to its average volume of 544,281. The company has a market cap of $13.12 billion, a PE ratio of 11.35 and a beta of 0.46. The business has a 50-day moving average of $176.90 and a 200-day moving average of $163.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life Inc. has a 1-year low of $127.85 and a 1-year high of $191.55.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing analysts' consensus estimates of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the business earned $3.05 EPS. The company's quarterly 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. As a group, analysts forecast that Globe Life Inc. will post 15.71 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, October 5th. Globe Life's dividend payout ratio (DPR) is currently 8.76%.

Globe Life declared that its board has authorized a stock buyback plan on Monday, August 10th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the company to buy up to 17.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Institutional Trading of Globe Life

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Globe Life during the second quarter valued at about $987,901,000. Pzena Investment Management LLC bought a new stake in shares of Globe Life in the 2nd quarter worth approximately $242,256,000. Norges Bank acquired a new stake in shares of Globe Life during the 4th quarter worth approximately $155,617,000. Equity Investment Corp bought a new stake in shares of Globe Life during the second quarter valued at approximately $122,971,000. Finally, Bank of America Corp DE bought a new position in Globe Life in the second quarter worth $121,638,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GL shares. TD Cowen boosted their target price on Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Morgan Stanley lifted their price target on Globe Life from $181.00 to $208.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. JPMorgan Chase & Co. upped their price objective on shares of Globe Life from $181.00 to $201.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Finally, Piper Sandler raised their target price on Globe Life from $175.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and a consensus price target of $191.67.

Globe Life Company Profile

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company's principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.

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