MidFirst Bank Acquires New Holdings in Globe Life Inc. $GL

MidFirst Bank bought a new stake in Globe Life Inc. (NYSE:GL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,779 shares of the company’s stock, valued at approximately $529,000.

Other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 last quarter. NewEdge Advisors LLC increased its position in Globe Life by 368.1% during the first 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. increased its position in Globe Life by 11.5% during the first 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 acquired a new position in Globe Life during the first quarter worth $428,000. Finally, Focus Partners Wealth raised its holdings in Globe Life by 8.3% during the first quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock valued at $1,127,000 after buying an additional 656 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on GL. Weiss Ratings raised Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Wells Fargo & Company increased their price objective on Globe Life from $171.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Morgan Stanley raised their price objective on Globe Life from $176.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods restated a “moderate buy” rating and issued a $168.00 target price on shares of Globe Life in a report on Thursday, March 26th. Finally, Truist Financial boosted their target price on Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a report 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.11.

Globe Life Stock Performance

NYSE:GL opened at $171.05 on Friday. The firm has a market capitalization of $13.28 billion, a PE ratio of 11.83 and a beta of 0.49. Globe Life Inc. has a 1 year low of $116.73 and a 1 year high of $172.74. 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 firm’s fifty day simple moving average is $155.49 and its 200 day simple moving average is $145.75.

Globe Life (NYSE:GL) last released 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 firm had revenue of $1.56 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $3.07 EPS. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. On average, sell-side analysts anticipate that Globe Life Inc. will post 15.64 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s payout ratio is presently 9.13%.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 20,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $156.68, for a total transaction of $3,133,600.00. Following the completion of the transaction, the chief executive officer owned 54,020 shares of the company’s stock, valued at approximately $8,463,853.60. The trade was a 27.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 15,637 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $153.65, for a total value of $2,402,625.05. Following the sale, the chief financial officer owned 45,335 shares of the company’s stock, valued at approximately $6,965,722.75. The trade was a 25.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 115,929 shares of company stock valued at $18,049,250. Company insiders own 2.11% of the company’s stock.

Globe Life 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.