Pallas Capital Advisors LLC Invests $1.80 Million in Globe Life Inc. $GL

Pallas Capital Advisors LLC bought a new position in shares of Globe Life Inc. (NYSE:GL) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 10,078 shares of the company’s stock, valued at approximately $1,801,000.

A number of other hedge funds have also added to or reduced their stakes in the business. 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 valued at $1,237,000 after acquiring an additional 607 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Globe Life by 368.1% during the first quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock worth $897,000 after acquiring an additional 5,352 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Globe Life by 11.5% during the first quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company’s stock valued at $74,161,000 after purchasing an additional 58,163 shares during the last quarter. Empowered Funds LLC bought a new position in Globe Life in the first quarter valued at approximately $428,000. Finally, Focus Partners Wealth grew its stake in Globe Life by 8.3% in the first quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock valued at $1,127,000 after purchasing an additional 656 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Down 0.6%

Globe Life stock opened at $180.00 on Tuesday. The company’s 50-day moving average price is $177.61 and its two-hundred day moving average price is $157.71. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. The stock has a market cap of $13.83 billion, a P/E ratio of 11.95 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) last posted its earnings results on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $3.67 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. Globe Life’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, analysts expect that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s dividend payout ratio is currently 8.76%.

Globe Life announced that its Board of Directors has authorized a stock repurchase program on Monday, August 10th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to buy up to 17.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently commented on GL. 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 report on Friday, July 10th. TD Cowen upped their price target on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their price target 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. Piper Sandler lifted their price objective on shares of Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Truist Financial boosted their price objective on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $191.67.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 20,000 shares of the business’s 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 sale, the chief executive officer owned 54,020 shares of the company’s stock, valued at approximately $8,463,853.60. The trade was a 27.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cheryl Alston sold 8,258 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $179.24, for a total transaction of $1,480,163.92. Following the completion of the transaction, the director owned 16,621 shares in the company, valued at $2,979,148.04. This trade represents a 33.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 179,844 shares of company stock worth $31,616,279. 2.11% of the stock is currently owned by company 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.