NewEdge Wealth LLC Makes New Investment in Globe Life Inc. $GL

NewEdge Wealth LLC bought a new position in shares of Globe Life Inc. (NYSE:GL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,256 shares of the company’s stock, valued at approximately $939,000.

Other large investors have also recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new position in Globe Life in the fourth quarter worth approximately $30,000. CYBER HORNET ETFs LLC bought a new stake in Globe Life during the 2nd quarter valued at $28,000. MUFG Securities EMEA plc purchased a new position in Globe Life in the second quarter valued at about $31,000. Torren Management LLC bought a new position in shares of Globe Life during the 4th quarter worth approximately $37,000. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Globe Life by 41.1% during the 1st quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock valued at $44,000 after purchasing an additional 92 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Performance

GL opened at $171.07 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a fifty day moving average price of $178.36 and a 200 day moving average price of $158.52. Globe Life Inc. has a 1 year low of $127.85 and a 1 year high of $191.55. The stock has a market cap of $13.15 billion, a P/E ratio of 11.36 and a beta of 0.48.

Globe Life (NYSE:GL) last released its quarterly 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). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business posted $3.05 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities research analysts anticipate that Globe Life Inc. will post 15.71 earnings per share for the current year.

Globe Life Announces Dividend

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 paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s dividend payout ratio is presently 8.76%.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GL. Piper Sandler boosted their price objective 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. Truist Financial boosted their target price on shares of Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Jefferies Financial Group upped their price target on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Weiss Ratings lowered Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. Finally, Wells Fargo & Company lifted their price objective on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $191.67.

Insider Activity

In other Globe Life news, CFO Thomas Peter Kalmbach sold 21,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was 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 approximately $9,105,274.08. This represents a 29.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 151,908 shares of company stock worth $27,239,981. 2.11% of the stock is currently owned by corporate insiders.

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.