10,629 Shares in Globe Life Inc. $GL Purchased by Evolve Private Wealth LLC

Evolve Private Wealth LLC acquired a new stake in Globe Life Inc. (NYSE:GL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 10,629 shares of the company’s stock, valued at approximately $1,899,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GL. Hilton Head Capital Partners LLC bought a new position in Globe Life in the 4th quarter worth about $30,000. Johnson Financial Group Inc. acquired a new stake in shares of Globe Life in the second quarter valued at approximately $39,000. CYBER HORNET ETFs LLC bought a new stake in shares of Globe Life during the second quarter valued at approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life during the second quarter valued at approximately $31,000. Finally, Torren Management LLC acquired a new position in shares of Globe Life during the fourth quarter worth approximately $37,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on GL. JPMorgan Chase & Co. increased their price objective on Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. TD Cowen lifted their target price on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Piper Sandler boosted their price target on Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Jefferies Financial Group increased their price target on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Weiss Ratings lowered Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.67.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $166.68, for a total value of $1,666,800.00. Following the completion of the transaction, the chief executive officer owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. This trade represents a 15.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 25,650 shares of Globe Life stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $178.58, for a total transaction of $4,580,577.00. Following the transaction, the chief financial officer owned 50,568 shares in the company, valued at approximately $9,030,433.44. The trade was a 33.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 151,908 shares of company stock valued at $27,239,981 over the last 90 days. 2.11% of the stock is owned by corporate insiders.

Globe Life Price Performance

Shares of NYSE:GL opened at $171.07 on Friday. The company has a market capitalization of $13.15 billion, a PE ratio of 11.36 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a fifty day moving average of $178.36 and a 200-day moving average of $158.52. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (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 company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the firm earned $3.05 earnings per share. The firm’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. As a group, equities analysts anticipate that Globe Life Inc. will post 15.71 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, October 5th. Globe Life’s dividend payout ratio (DPR) is presently 8.76%.

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

Globe Life Company 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.