Evolve Private Wealth LLC Takes Position in Globe Life Inc. $GL

Evolve Private Wealth LLC bought a new position in shares of Globe Life Inc. (NYSE:GL) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 10,629 shares of the company’s stock, valued at approximately $1,899,000.

Several other hedge funds have also recently bought and sold shares of GL. CYBER HORNET ETFs LLC purchased a new stake in Globe Life during the second quarter worth approximately $28,000. Hilton Head Capital Partners LLC purchased a new position in shares of Globe Life in the 4th quarter valued at $30,000. MUFG Securities EMEA plc acquired a new position in shares of Globe Life during the 2nd quarter valued at $31,000. Torren Management LLC acquired a new position in shares of Globe Life during the 4th quarter valued at $37,000. Finally, Johnson Financial Group Inc. purchased a new stake in Globe Life during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 0.3%

Shares of NYSE GL opened at $171.07 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a 1 year low of $127.85 and a 1 year high of $191.55. The stock’s 50-day simple moving average is $178.36 and its 200-day simple moving average is $158.52. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of 11.36 and a beta of 0.48.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS 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 the consensus estimate of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.05 earnings per share. 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 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

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

Globe Life announced that its Board of Directors has authorized a stock buyback program on Monday, August 10th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group increased their price target 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 raised their target price on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods decreased their price target on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $191.67.

Insider Activity

In other news, CEO James Matthew Darden sold 50,000 shares of Globe Life stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $182.43, for a total value of $9,121,500.00. Following the completion of the transaction, the chief executive officer directly owned 58,451 shares of the company’s stock, 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, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the sale, the executive vice president owned 53,518 shares in the company, valued at approximately $9,560,455.52. This trade represents a 40.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 151,908 shares of company stock valued at $27,239,981 over the last three months. Company insiders own 2.11% of the company’s stock.

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.