Lazard Asset Management LLC Invests $417,000 in Globe Life Inc. $GL

Lazard Asset Management LLC bought a new position in Globe Life Inc. (NYSE:GL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,997 shares of the company’s stock, valued at approximately $417,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GL. Weiss Asset Management LP purchased a new position in Globe Life during the 1st quarter valued at approximately $2,645,000. Waverly Advisors LLC raised its holdings in shares of Globe Life by 10.2% during the 1st quarter. Waverly Advisors LLC now owns 7,581 shares of the company’s stock worth $1,055,000 after acquiring an additional 699 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new stake in shares of Globe Life during the 1st quarter worth approximately $2,463,000. Bank of Nova Scotia boosted its position in shares of Globe Life by 19.2% during the 1st quarter. Bank of Nova Scotia now owns 74,287 shares of the company’s stock valued at $10,339,000 after acquiring an additional 11,970 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Globe Life by 49.1% during the 1st quarter. Sei Investments Co. now owns 71,795 shares of the company’s stock valued at $9,993,000 after acquiring an additional 23,632 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Insider Transactions at Globe Life

In related news, EVP Michael Clay Majors sold 37,000 shares of Globe Life stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the completion of the transaction, the executive vice president directly owned 53,518 shares of the company’s stock, valued at approximately $9,560,455.52. The trade was a 40.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Peter Kalmbach sold 21,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $180.06, for a total transaction of $3,781,260.00. Following the transaction, the chief financial officer owned 50,568 shares in the company, valued at $9,105,274.08. The trade was a 29.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 207,384 shares of company stock worth $35,883,033. 2.11% of the stock is currently owned by insiders.

Globe Life Stock Performance

NYSE GL opened at $183.53 on Friday. The business’s 50 day moving average price is $174.45 and its 200-day moving average price is $155.77. Globe Life Inc. has a fifty-two week low of $127.85 and a fifty-two week high of $191.55. The company has a market cap of $14.10 billion, a P/E ratio of 12.19 and a beta of 0.48. 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 (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Sell-side analysts predict that Globe Life Inc. will post 15.7 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, October 5th. Globe Life’s dividend payout ratio (DPR) is 8.76%.

Analysts Set New Price Targets

GL has been the subject of a number of recent research reports. Piper Sandler raised their target price on shares of Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Wells Fargo & Company increased their price objective on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Truist Financial lifted 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. Keefe, Bruyette & Woods reduced their target price on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their target price 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. One investment 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. According to data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.67.

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.