SummitTX Capital L.P. Lowers Stock Position in Globe Life Inc. $GL

SummitTX Capital L.P. lessened its holdings in shares of Globe Life Inc. (NYSE:GL) by 72.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,398 shares of the company’s stock after selling 14,180 shares during the period. SummitTX Capital L.P.’s holdings in Globe Life were worth $751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lazard Asset Management LLC bought a new position in shares of Globe Life in the 1st quarter worth about $417,000. Weiss Asset Management LP bought a new stake in Globe Life during the first quarter worth about $2,645,000. Waverly Advisors LLC boosted its stake in Globe Life by 10.2% during the first quarter. Waverly Advisors LLC now owns 7,581 shares of the company’s stock worth $1,055,000 after acquiring an additional 699 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new stake in Globe Life in the first quarter worth about $2,463,000. Finally, Bank of Nova Scotia grew its holdings in Globe Life by 19.2% in the first quarter. Bank of Nova Scotia now owns 74,287 shares of the company’s stock worth $10,339,000 after purchasing an additional 11,970 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 1.7%

NYSE:GL opened at $182.65 on Friday. The firm has a market cap of $14.18 billion, a P/E ratio of 12.13 and a beta of 0.47. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a fifty-two week low of $127.85 and a fifty-two week high of $191.55. The firm has a 50-day simple moving average of $171.01 and a two-hundred day simple moving average of $154.07.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Globe Life had a return on equity of 20.73% and a net margin of 19.58%.The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Analysts predict that Globe Life Inc. will post 15.7 earnings per share for the current fiscal year.

Insider Activity

In other Globe Life news, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the sale, the executive vice president directly owned 53,518 shares in the company, valued at approximately $9,560,455.52. This trade represents a 40.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 10,000 shares of Globe Life stock in a transaction on Friday, June 12th. The stock was sold at an average price of $166.68, for a total value of $1,666,800.00. Following the completion of the sale, the chief executive officer directly owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. The trade was a 15.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 169,174 shares of company stock worth $28,553,849 over the last three months. 2.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on GL. Piper Sandler lifted their target price 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. JPMorgan Chase & Co. upped their price target on Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Morgan Stanley raised their price objective on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Truist Financial lifted their price objective on Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.67.

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.