NewEdge Wealth LLC Takes $536,000 Position in Globe Life Inc. $GL

NewEdge Wealth LLC bought a new stake in Globe Life Inc. (NYSE:GL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,004 shares of the company’s stock, valued at approximately $536,000.

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

Globe Life Trading Down 1.2%

Shares of Globe Life stock opened at $142.72 on Tuesday. The firm has a 50-day simple moving average of $141.48 and a two-hundred day simple moving average of $138.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a fifty-two week low of $109.38 and a fifty-two week high of $152.71. The company has a market cap of $11.36 billion, a P/E ratio of 10.14 and a beta of 0.47.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($0.05). The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Globe Life had a net margin of 19.37% and a return on equity of 21.75%. Globe Life’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.14 EPS. Globe Life has set its FY 2026 guidance at 14.950-15.650 EPS. As a group, equities analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $144.78, for a total transaction of $1,809,750.00. Following the completion of the transaction, the chief executive officer directly owned 35,868 shares in the company, valued at approximately $5,192,969.04. This represents a 25.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Blinn sold 1,750 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $147.91, for a total transaction of $258,842.50. Following the transaction, the director directly owned 3,372 shares in the company, valued at approximately $498,752.52. The trade was a 34.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 63,629 shares of company stock valued at $9,223,785. Corporate insiders own 1.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $167.00 price objective on shares of Globe Life in a research note on Friday, November 21st. Truist Financial upped their price target on shares of Globe Life from $158.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Globe Life in a research report on Thursday, December 11th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $180.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings raised Globe Life from a “hold (c+)” rating to a “buy (b-)” rating in a 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $171.22.

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.