New York State Teachers Retirement System Sells 4,244 Shares of Globe Life Inc. $GL

New York State Teachers Retirement System trimmed its stake in Globe Life Inc. (NYSE:GL) by 4.3% in the third quarter, Holdings Channel reports. The firm owned 93,458 shares of the company’s stock after selling 4,244 shares during the quarter. New York State Teachers Retirement System’s holdings in Globe Life were worth $13,362,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in shares of Globe Life by 3.9% in the 2nd quarter. Invesco Ltd. now owns 3,921,439 shares of the company’s stock valued at $487,396,000 after buying an additional 147,644 shares during the last quarter. Geode Capital Management LLC raised its position in Globe Life by 2.9% during the second quarter. Geode Capital Management LLC now owns 2,722,768 shares of the company’s stock worth $339,875,000 after acquiring an additional 76,995 shares in the last quarter. AQR Capital Management LLC lifted its stake in Globe Life by 98.6% in the second quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock valued at $174,340,000 after acquiring an additional 696,548 shares during the last quarter. Norges Bank acquired a new stake in Globe Life in the second quarter valued at $157,722,000. Finally, Bank of New York Mellon Corp grew its position in shares of Globe Life by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,248,025 shares of the company’s stock valued at $155,117,000 after acquiring an additional 43,095 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 9,379 shares of Globe Life stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $140.43, for a total transaction of $1,317,092.97. Following the completion of the sale, the chief executive officer owned 35,868 shares of the company’s stock, valued at approximately $5,036,943.24. This trade represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GL. Evercore ISI cut shares of Globe Life from an “outperform” rating to an “in-line” rating and set a $155.00 target price on the stock. in a report on Tuesday, January 6th. Wells Fargo & Company lowered their price target on Globe Life from $172.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. TD Cowen upped their price objective on Globe Life from $182.00 to $199.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Truist Financial raised their price objective on Globe Life from $150.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Keefe, Bruyette & Woods boosted their target price on Globe Life from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $166.22.

Globe Life Stock Down 0.7%

Globe Life stock opened at $141.82 on Wednesday. The company’s 50-day moving average price is $136.60 and its two-hundred day moving average price is $135.71. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.41. The stock has a market cap of $11.29 billion, a P/E ratio of 10.28 and a beta of 0.48. Globe Life Inc. has a twelve month low of $109.38 and a twelve month high of $147.83.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.27. Globe Life had a return on equity of 21.81% and a net margin of 19.36%.The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company posted $3.44 earnings per share. Globe Life has set its FY 2026 guidance at 14.600-15.300 EPS and its FY 2025 guidance at 14.400-14.600 EPS. As a group, analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, January 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, January 5th. Globe Life’s dividend payout ratio is currently 7.83%.

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.