Corient Private Wealth LP Takes Position in Globe Life Inc. $GL

Corient Private Wealth LP bought a new position in shares of Globe Life Inc. (NYSE:GL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 93,542 shares of the company’s stock, valued at approximately $16,714,000.

Several other institutional investors also recently bought and sold shares of GL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Globe Life by 6.9% in the first 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 during the period. NewEdge Advisors LLC grew its stake in shares of Globe Life by 368.1% during the 1st quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock worth $897,000 after purchasing an additional 5,352 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Globe Life by 11.5% during the 1st 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 in the last quarter. Empowered Funds LLC purchased a new position in shares of Globe Life during the 1st quarter valued at approximately $428,000. Finally, Focus Partners Wealth lifted its stake in shares of Globe Life by 8.3% in the 1st 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 during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO James Matthew Darden sold 50,000 shares of Globe Life stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $182.43, for a total value of $9,121,500.00. Following the sale, the chief executive officer directly owned 58,451 shares in the company, valued at approximately $10,663,215.93. The trade was a 46.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $166.68, for a total value of $1,666,800.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 151,908 shares of company stock worth $27,239,981. Company insiders own 2.11% of the company’s stock.

Globe Life Trading Down 1.3%

Shares of NYSE:GL opened at $173.41 on Friday. The business’s 50 day moving average price is $178.77 and its 200-day moving average price is $159.53. Globe Life Inc. has a 1 year low of $127.85 and a 1 year high of $191.55. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of 11.51 and a beta of 0.48. 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 (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. On average, equities research analysts forecast that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year.

Globe Life announced that its Board of Directors has approved a stock buyback program on Monday, August 10th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Globe Life Dividend Announcement

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

Wall Street Analysts Forecast Growth

GL has been the topic of a number of recent analyst reports. TD Cowen increased their price target on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Jefferies Financial Group upped their price objective on shares of Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods lowered their target price on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Finally, Piper Sandler raised their target price on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.67.

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.