Norges Bank Takes Position in Globe Life Inc. $GL

Norges Bank purchased a new stake in Globe Life Inc. (NYSE:GL) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,112,665 shares of the company’s stock, valued at approximately $155,617,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Transcend Capital Advisors LLC grew its stake in shares of Globe Life by 3.9% in the fourth quarter. Transcend Capital Advisors LLC now owns 2,265 shares of the company’s stock valued at $317,000 after acquiring an additional 84 shares in the last quarter. Natural Investments LLC grew its stake in shares of Globe Life by 2.6% in the fourth quarter. Natural Investments LLC now owns 3,452 shares of the company’s stock valued at $482,000 after acquiring an additional 87 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in shares of Globe Life by 2.2% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 4,518 shares of the company’s stock valued at $646,000 after acquiring an additional 99 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of Globe Life by 1.9% in the third quarter. Clearstead Advisors LLC now owns 5,273 shares of the company’s stock valued at $754,000 after acquiring an additional 100 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Globe Life by 1.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 8,950 shares of the company’s stock valued at $1,252,000 after acquiring an additional 100 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GL has been the topic of several research reports. Texas Capital upgraded shares of Globe Life to a “strong-buy” rating in a research note on Wednesday, March 18th. Keefe, Bruyette & Woods restated a “moderate buy” rating and issued a $168.00 price target on shares of Globe Life in a research note on Thursday, March 26th. Weiss Ratings upgraded shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $180.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Morgan Stanley upped their price target on shares of Globe Life from $176.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.11.

Globe Life Trading Up 0.1%

Shares of Globe Life stock opened at $151.21 on Thursday. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of 10.46 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. Globe Life Inc. has a 12-month low of $116.73 and a 12-month high of $157.92. The firm’s 50-day moving average price is $149.71 and its two-hundred day moving average price is $143.16.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.07 earnings per share. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. On average, analysts forecast that Globe Life Inc. will post 15.62 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.9%. Globe Life’s dividend payout ratio is 9.13%.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 54,020 shares of the company’s stock, valued at approximately $8,463,853.60. This represents a 27.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 4,663 shares of the stock in a transaction dated 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 of the company’s stock, valued at $8,994,439.88. This trade represents a 7.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 105,929 shares of company stock worth $16,382,450 over the last three months. 2.11% of the stock is owned by insiders.

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.