Cornerstone Management Inc. Cuts Stock Position in Globe Life Inc. $GL

Cornerstone Management Inc. cut its holdings in shares of Globe Life Inc. (NYSE:GL) by 40.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,220 shares of the company’s stock after selling 3,516 shares during the quarter. Cornerstone Management Inc.’s holdings in Globe Life were worth $726,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. CYBER HORNET ETFs LLC bought a new position in shares of Globe Life in the second quarter worth about $28,000. Hilton Head Capital Partners LLC bought a new stake in Globe Life during the 4th quarter valued at approximately $30,000. MUFG Securities EMEA plc purchased a new position in Globe Life in the 2nd quarter worth approximately $31,000. Torren Management LLC purchased a new position in Globe Life in the 4th quarter worth approximately $37,000. Finally, Banque Cantonale Vaudoise purchased a new position in Globe Life in the 3rd quarter worth approximately $50,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In other news, EVP Michael Clay Majors sold 34,000 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $153.81, for a total transaction of $5,229,540.00. Following the completion of the transaction, the executive vice president directly owned 53,518 shares in the company, valued at approximately $8,231,603.58. This represents a 38.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. This trade represents a 15.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,929 shares of company stock valued at $18,049,250 over the last 90 days. Insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GL. Weiss Ratings raised shares of 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 report on Thursday, May 21st. Wells Fargo & Company boosted their target price on shares of Globe Life from $171.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Texas Capital upgraded shares of Globe Life to a “strong-buy” rating in a research report on Wednesday, March 18th. 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 analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $174.11.

Globe Life Trading Up 0.2%

Shares of GL stock opened at $171.05 on Monday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 11.83 and a beta of 0.49. Globe Life Inc. has a 12-month low of $116.73 and a 12-month high of $172.74. The stock’s 50-day moving average price is $155.49 and its 200-day moving average price is $145.85.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. Globe Life’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.07 earnings per share. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. Equities research analysts predict that Globe Life Inc. will post 15.64 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued 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, July 6th. Globe Life’s dividend payout ratio is 9.13%.

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.