Globe Life Inc. $GL Shares Sold by Equity Investment Corp

Equity Investment Corp cut its position in shares of Globe Life Inc. (NYSE:GL) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 810,233 shares of the company’s stock after selling 11,326 shares during the quarter. Globe Life makes up 2.3% of Equity Investment Corp’s investment portfolio, making the stock its 16th largest position. Equity Investment Corp’s holdings in Globe Life were worth $113,319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in Globe Life in the 2nd quarter valued at $28,000. Hilton Head Capital Partners LLC acquired a new stake in Globe Life in the 4th quarter worth about $30,000. MUFG Securities EMEA plc purchased a new stake in Globe Life in the 2nd quarter valued at about $31,000. Torren Management LLC acquired a new position in shares of Globe Life during the 4th quarter valued at about $37,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Globe Life during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James Matthew Darden sold 4,663 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $153.88, for a total transaction of $717,542.44. Following the completion of the transaction, 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 20,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $156.68, for a total value of $3,133,600.00. Following the transaction, the chief executive officer owned 54,020 shares of the company’s stock, valued at approximately $8,463,853.60. This trade represents a 27.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 105,929 shares of company stock valued at $16,382,450. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Globe Life from $167.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Evercore set a $157.00 price objective on shares of Globe Life in a research note on Wednesday, February 18th. Truist Financial upped their price objective on shares of Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Texas Capital raised shares of Globe Life to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Wells Fargo & Company upped their price objective on shares of Globe Life from $171.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.11.

Globe Life Stock Up 1.5%

NYSE GL opened at $165.04 on Friday. The stock has a market cap of $12.81 billion, a PE ratio of 11.41 and a beta of 0.49. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $152.36 and a two-hundred day moving average price of $144.36. Globe Life Inc. has a fifty-two week low of $116.73 and a fifty-two week high of $165.78.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.46 by ($0.03). The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.07 earnings per share. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, sell-side analysts predict that Globe Life Inc. will post 15.62 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm 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. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, July 6th. Globe Life’s dividend payout ratio is 9.13%.

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.