Michael Clay Majors Sells 37,000 Shares of Globe Life (NYSE:GL) Stock

Globe Life Inc. (NYSE:GL) EVP Michael Clay Majors sold 37,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total value of $6,609,680.00. Following the transaction, the executive vice president owned 53,518 shares of the company’s stock, valued at approximately $9,560,455.52. The trade was a 40.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Globe Life Price Performance

Shares of GL stock traded up $2.96 during trading hours on Thursday, hitting $182.65. The stock had a trading volume of 759,810 shares, compared to its average volume of 566,665. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 12.13 and a beta of 0.47. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55. The stock’s 50-day moving average price is $170.49 and its two-hundred day moving average price is $153.78.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.73%. Globe Life’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities analysts forecast that Globe Life Inc. will post 15.73 EPS for the current year.

Analysts Set New Price Targets

GL has been the subject of a number of recent research reports. Truist Financial raised their target price on shares of Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods decreased their price target on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. TD Cowen upped their target price on shares of Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Piper Sandler increased their price target on shares of Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lifted their price target on Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. One investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $191.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GL. Norges Bank purchased a new stake in shares of Globe Life in the fourth quarter valued at $155,617,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Globe Life by 34,786.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company’s stock worth $123,345,000 after acquiring an additional 879,391 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Globe Life by 98.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock worth $174,340,000 after purchasing an additional 696,548 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Globe Life during the 3rd quarter worth about $80,925,000. Finally, Ascentis Wealth Management LLC grew its holdings in Globe Life by 23,840.4% during the 2nd quarter. Ascentis Wealth Management LLC now owns 381,131 shares of the company’s stock valued at $68,100,000 after purchasing an additional 379,539 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.