SG Americas Securities LLC Cuts Stake in Globe Life Inc. $GL

SG Americas Securities LLC cut its holdings in shares of Globe Life Inc. (NYSE:GL) by 73.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 26,321 shares of the company’s stock after selling 73,425 shares during the period. SG Americas Securities LLC’s holdings in Globe Life were worth $3,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC acquired a new position in shares of Globe Life in the second quarter worth $28,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Globe Life in the fourth quarter valued at $30,000. MUFG Securities EMEA plc acquired a new stake in shares of Globe Life in the second quarter valued at $31,000. Torren Management LLC purchased a new position in Globe Life in the fourth quarter valued at $37,000. Finally, Banque Cantonale Vaudoise purchased a new position in Globe Life in the third quarter valued at $50,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of GL stock opened at $178.94 on Tuesday. 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 has a fifty day moving average price of $158.91 and a 200 day moving average price of $147.74. The company has a market cap of $13.89 billion, a P/E ratio of 12.37 and a beta of 0.49. Globe Life Inc. has a 12 month low of $116.73 and a 12 month high of $181.15.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.46 by ($0.03). Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the company earned $3.07 EPS. The business’s quarterly revenue 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. Sell-side analysts predict that Globe Life Inc. will post 15.64 earnings per share for the current fiscal year.

Globe Life Announces Dividend

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 issued 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 0.7%. Globe Life’s dividend payout ratio is presently 9.13%.

Analysts Set New Price Targets

Several research analysts recently commented on GL shares. Truist Financial boosted their target price on Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings upgraded Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Wells Fargo & Company boosted their price objective on Globe Life from $171.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Keefe, Bruyette & Woods restated a “moderate buy” rating and set a $168.00 target price on shares of Globe Life in a research note on Thursday, March 26th. Finally, Piper Sandler raised their target price on shares of Globe Life from $167.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.89.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 4,663 shares of the company’s stock in a transaction that occurred on 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 directly owned 58,451 shares of the company’s stock, valued at $8,994,439.88. This represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Clay Majors sold 34,000 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were 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 owned 53,518 shares in the company, valued at $8,231,603.58. This represents a 38.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 124,187 shares of company stock worth $19,529,414. 2.11% of the stock is currently owned by company insiders.

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.