MidFirst Bank Makes New $563,000 Investment in Globe Life Inc. $GL

MidFirst Bank purchased a new stake in Globe Life Inc. (NYSE:GL) in the second quarter, Holdings Channel reports. The institutional investor purchased 3,150 shares of the company’s stock, valued at approximately $563,000.

Several other large investors also recently made changes to their positions in the business. Hilton Head Capital Partners LLC acquired a new position in shares of Globe Life in the 4th quarter worth approximately $30,000. CYBER HORNET ETFs LLC acquired a new stake in Globe Life during the second quarter valued at approximately $28,000. MUFG Securities EMEA plc acquired a new stake in Globe Life during the second quarter valued at approximately $31,000. Torren Management LLC bought a new stake in Globe Life during the fourth quarter worth approximately $37,000. Finally, AdvisorNet Financial Inc boosted its holdings in Globe Life by 41.1% during the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock worth $44,000 after buying an additional 92 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Activity

In other Globe Life news, CEO James Matthew Darden sold 50,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the sale, the chief executive officer directly owned 58,451 shares of the company’s stock, valued at $10,663,215.93. The trade was a 46.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cheryl Alston sold 8,258 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $179.24, for a total value of $1,480,163.92. Following the completion of the sale, the director owned 16,621 shares of the company’s stock, valued at $2,979,148.04. The trade was a 33.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 179,844 shares of company stock worth $31,616,279. 2.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Morgan Stanley raised their price objective on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. TD Cowen lifted their target price on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Piper Sandler boosted their target price on Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings lowered Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.67.

Globe Life Stock Performance

Shares of GL opened at $180.00 on Tuesday. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55. The company has a 50-day moving average of $177.61 and a two-hundred day moving average of $157.71. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 11.95 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. On average, equities research analysts expect that Globe Life Inc. will post 15.71 earnings per share for the current year.

Globe Life announced that its Board of Directors has initiated a stock repurchase program on Monday, August 10th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to purchase up to 17.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, October 5th. Globe Life’s payout ratio is presently 8.76%.

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.