Bank of New York Mellon Corp Sells 118,878 Shares of Globe Life Inc. $GL

Bank of New York Mellon Corp reduced its position in Globe Life Inc. (NYSE:GL) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 569,816 shares of the company’s stock after selling 118,878 shares during the quarter. Bank of New York Mellon Corp’s holdings in Globe Life were worth $79,694,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its holdings in shares of Globe Life by 55.2% in the third quarter. Allianz Asset Management GmbH now owns 82,263 shares of the company’s stock worth $11,761,000 after acquiring an additional 29,256 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Globe Life by 5.6% in the third quarter. Pzena Investment Management LLC now owns 998,506 shares of the company’s stock worth $142,756,000 after acquiring an additional 52,523 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Globe Life by 909.6% in the fourth quarter. SG Americas Securities LLC now owns 99,746 shares of the company’s stock worth $13,950,000 after acquiring an additional 89,866 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Globe Life in the third quarter worth about $7,348,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Globe Life by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 247,947 shares of the company’s stock worth $35,449,000 after acquiring an additional 24,785 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $156.68, for a total transaction of $3,133,600.00. Following the completion of the sale, the chief executive officer owned 54,020 shares of the company’s stock, valued at $8,463,853.60. This trade represents a 27.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Clay Majors sold 34,000 shares of the firm’s 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 sale, the executive vice president directly owned 53,518 shares of the company’s stock, valued at approximately $8,231,603.58. This trade represents a 38.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 105,929 shares of company stock worth $16,382,450. Corporate insiders own 2.11% of the company’s stock.

Globe Life Trading Down 1.2%

NYSE:GL opened at $157.23 on Tuesday. The firm’s fifty day moving average is $150.83 and its 200-day moving average is $143.70. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a 52 week low of $116.73 and a 52 week high of $159.36. The firm has a market cap of $12.21 billion, a P/E ratio of 10.87 and a beta of 0.49.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the company posted $3.07 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. Equities analysts expect that Globe Life Inc. will post 15.62 earnings per share for the current year.

Globe Life Dividend Announcement

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

Wall Street Analysts Forecast Growth

GL has been the subject of a number of research reports. Truist Financial increased their target price 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. Morgan Stanley raised their price objective on shares of Globe Life from $176.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Texas Capital upgraded shares of Globe Life to a “strong-buy” rating in a report on Wednesday, March 18th. Wells Fargo & Company raised their price objective on shares of Globe Life from $171.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Finally, Weiss Ratings upgraded shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.11.

Globe Life Company 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.