Globe Life (NYSE:GL) Sets New 52-Week High – Here’s What Happened

Globe Life Inc. (NYSE:GL)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $175.63 and last traded at $172.0670, with a volume of 895306 shares trading hands. The stock had previously closed at $170.76.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GL. Texas Capital upgraded Globe Life to a “strong-buy” rating in a report on Wednesday, March 18th. Weiss Ratings upgraded Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Morgan Stanley lifted their price objective 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. Piper Sandler boosted their target price on shares of Globe Life from $167.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company boosted their target price on shares of Globe Life from $171.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.11.

Globe Life Price Performance

The stock has a market capitalization of $13.36 billion, a P/E ratio of 11.90 and a beta of 0.49. The business’s 50 day simple moving average is $155.99 and its two-hundred day simple moving average is $146.14. 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 (NYSE:GL) last posted its earnings results on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.46 by ($0.03). Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm earned $3.07 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, sell-side analysts forecast that Globe Life Inc. will post 15.64 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, July 6th. Globe Life’s payout ratio is currently 9.13%.

Insider Buying and Selling

In other news, EVP Michael Clay Majors sold 34,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $153.81, for a total value of $5,229,540.00. Following the transaction, the executive vice president owned 53,518 shares in the company, valued at $8,231,603.58. This trade represents a 38.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 10,000 shares of Globe Life 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 transaction, the chief executive officer directly owned 54,020 shares in the company, valued at approximately $9,004,053.60. The trade was a 15.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 115,929 shares of company stock valued at $18,049,250. 2.11% of the stock is owned by company insiders.

Institutional Trading of Globe Life

Several institutional investors and hedge funds have recently made changes to their positions in GL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 worth $1,237,000 after purchasing an additional 607 shares in the last quarter. NewEdge Advisors LLC lifted its position 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 buying an additional 5,352 shares in the last quarter. Goldman Sachs Group Inc. lifted its position 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 worth $74,161,000 after buying an additional 58,163 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Globe Life in the 1st quarter worth approximately $428,000. Finally, Focus Partners Wealth grew its holdings in shares of 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 acquiring an additional 656 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

About Globe Life

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.