Globe Life (NYSE:GL) CEO Sells $2,657,941.80 in Stock

Globe Life Inc. (NYSE:GL) CEO James Matthew Darden sold 18,318 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $145.10, for a total value of $2,657,941.80. Following the completion of the sale, the chief executive officer owned 51,093 shares in the company, valued at $7,413,594.30. The trade was a 26.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

James Matthew Darden also recently made the following trade(s):

• On Friday, February 27th, James Matthew Darden sold 9,527 shares of Globe Life stock. The shares were sold at an average price of $144.34, for a total transaction of $1,375,127.18.

Globe Life Stock Performance

Shares of GL stock traded up $0.20 during trading hours on Wednesday, reaching $144.89. The stock had a trading volume of 351,666 shares, compared to its average volume of 506,554. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life Inc. has a twelve month low of $109.38 and a twelve month high of $152.71. The firm has a 50-day simple moving average of $142.00 and a 200-day simple moving average of $138.84. The firm has a market capitalization of $11.39 billion, a PE ratio of 10.29 and a beta of 0.46.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, February 4th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.05). Globe Life had a net margin of 19.37% and a return on equity of 21.30%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the firm earned $3.14 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 14.950-15.650 EPS. As a group, equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 3rd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This is a positive change from Globe Life’s previous quarterly dividend of $0.27. This represents a $1.32 annualized dividend and a dividend yield of 0.9%. Globe Life’s dividend payout ratio (DPR) is currently 7.67%.

Institutional Investors Weigh In On Globe Life

A number of institutional investors and hedge funds have recently modified their holdings of GL. Synergy Asset Management LLC boosted its holdings in shares of Globe Life by 1,022.7% in the third quarter. Synergy Asset Management LLC now owns 100,603 shares of the company’s stock worth $14,240,000 after buying an additional 91,642 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Globe Life by 55.2% during the third quarter. Allianz Asset Management GmbH now owns 82,263 shares of the company’s stock valued at $11,761,000 after acquiring an additional 29,256 shares during the period. Retirement Systems of Alabama purchased a new stake in shares of Globe Life in the 3rd quarter valued at approximately $2,470,000. SteelPeak Wealth LLC acquired a new position in Globe Life in the 3rd quarter worth approximately $2,985,000. Finally, MGO One Seven LLC acquired a new position in Globe Life in the 3rd quarter worth approximately $1,364,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GL. JPMorgan Chase & Co. upped their price objective on shares of Globe Life from $180.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Truist Financial boosted their price target on shares of Globe Life from $158.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $167.00 price objective on shares of Globe Life in a report on Friday, November 21st. TD Cowen reiterated a “buy” rating on shares of Globe Life in a research note on Thursday, December 11th. Finally, Weiss Ratings upgraded Globe Life from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $171.33.

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.