CIBC Asset Management Inc Grows Position in Globe Life Inc. $GL

CIBC Asset Management Inc boosted its stake in Globe Life Inc. (NYSE:GL) by 65.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,126 shares of the company’s stock after buying an additional 7,186 shares during the quarter. CIBC Asset Management Inc’s holdings in Globe Life were worth $2,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 valued at $1,237,000 after purchasing an additional 607 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Globe Life by 368.1% in 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 during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Globe Life by 11.5% in 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 during the last quarter. Empowered Funds LLC purchased a new position in shares of Globe Life in the 1st quarter worth about $428,000. Finally, Focus Partners Wealth boosted its holdings in shares of Globe Life by 8.3% in the 1st quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock worth $1,127,000 after buying an additional 656 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Globe Life news, CEO James Matthew Darden sold 4,663 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $153.88, for a total value of $717,542.44. Following the completion of the transaction, the chief executive officer owned 58,451 shares in the company, valued at $8,994,439.88. This trade represents a 7.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Clay Majors sold 34,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 53,518 shares of the company’s stock, valued at approximately $8,231,603.58. This represents a 38.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 105,929 shares of company stock worth $16,382,450 in the last 90 days. 2.11% of the stock is owned by company insiders.

Globe Life Stock Up 0.1%

GL stock opened at $159.28 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 11.02 and a beta of 0.49. Globe Life Inc. has a fifty-two week low of $116.73 and a fifty-two week high of $159.36. The stock has a fifty day moving average of $150.46 and a 200-day moving average of $143.52.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 20.94% and a net margin of 19.38%.The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.07 EPS. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, equities research analysts predict that Globe Life Inc. will post 15.62 earnings per share for the current year.

Globe Life Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GL shares. Truist Financial boosted their price target on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Wells Fargo & Company boosted their price target 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. Morgan Stanley boosted their price target on shares of Globe Life from $176.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods reissued a “moderate buy” rating and issued a $168.00 price target on shares of Globe Life in a report on Thursday, March 26th. Finally, Weiss Ratings upgraded Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.11.

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.