Globe Life (NYSE:GL) CEO Frank Svoboda Sells 10,000 Shares of Stock

Globe Life Inc. (NYSE:GL) CEO Frank Svoboda sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the completion of the sale, the chief executive officer directly owned 54,020 shares in the company, valued at $9,004,053.60. This represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Globe Life Trading Up 0.4%

Shares of GL opened at $167.44 on Tuesday. The firm’s 50 day simple moving average is $153.38 and its 200 day simple moving average is $144.82. The company has a market capitalization of $13.00 billion, a P/E ratio of 11.58 and a beta of 0.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life Inc. has a 1-year low of $116.73 and a 1-year high of $169.58.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.07 earnings per share. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. 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 announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $0.33 dividend. 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 dividend payout ratio (DPR) is currently 9.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GL shares. Wells Fargo & Company raised their target price on shares of Globe Life from $171.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Weiss Ratings raised shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Evercore set a $157.00 target price on shares of Globe Life in a research note on Wednesday, February 18th. Morgan Stanley raised their target price 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. Finally, Truist Financial raised their target price on shares of Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GL. Pzena Investment Management LLC lifted its position in Globe Life by 5.6% during the third quarter. Pzena Investment Management LLC now owns 998,506 shares of the company’s stock valued at $142,756,000 after buying an additional 52,523 shares during the period. SG Americas Securities LLC raised its position in shares of Globe Life by 909.6% in the 4th quarter. SG Americas Securities LLC now owns 99,746 shares of the company’s stock worth $13,950,000 after purchasing an additional 89,866 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Globe Life in the 3rd quarter worth about $7,348,000. JPMorgan Chase & Co. raised its position in shares of Globe Life by 11.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,947 shares of the company’s stock worth $35,449,000 after purchasing an additional 24,785 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Globe Life in the 3rd quarter worth about $1,063,000. 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.