CIBC Private Wealth Group LLC Cuts Stock Position in Globe Life Inc. $GL

CIBC Private Wealth Group LLC lowered its position in shares of Globe Life Inc. (NYSE:GL) by 15.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,758 shares of the company’s stock after selling 8,424 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.06% of Globe Life worth $6,542,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GL. CIBC Bancorp USA Inc. acquired a new stake in shares of Globe Life in the 3rd quarter worth $1,183,000. WBI Investments LLC increased its holdings in Globe Life by 165.5% in the 3rd quarter. WBI Investments LLC now owns 4,902 shares of the company’s stock valued at $701,000 after purchasing an additional 3,056 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Globe Life by 4.8% in the third quarter. Captrust Financial Advisors now owns 15,683 shares of the company’s stock valued at $2,242,000 after buying an additional 722 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Globe Life by 26.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,123 shares of the company’s stock valued at $589,000 after acquiring an additional 869 shares during the period. Finally, Danske Bank A S purchased a new position in Globe Life during the 3rd quarter valued at about $1,475,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Trading Down 0.6%

GL opened at $136.85 on Friday. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 9.72 and a beta of 0.46. Globe Life Inc. has a 52 week low of $109.38 and a 52 week high of $152.71. The business’s 50 day moving average is $141.82 and its two-hundred day moving average is $138.95. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.39.

Globe Life (NYSE:GL) last posted its quarterly earnings data 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 firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Globe Life had a net margin of 19.37% and a return on equity of 21.30%. Globe Life’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.14 earnings per share. Globe Life has set its FY 2026 guidance at 14.950-15.650 EPS. On average, research analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 3rd will be given a $0.33 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, April 2nd. This represents a $1.32 annualized dividend and a yield of 1.0%. Globe Life’s payout ratio is currently 7.67%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GL. Evercore set a $157.00 price target on shares of Globe Life in a research note on Wednesday, February 18th. Morgan Stanley reissued an “overweight” rating and issued a $176.00 price target on shares of Globe Life in a research report on Monday, December 15th. Weiss Ratings upgraded shares of Globe Life from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Wells Fargo & Company upped their price objective on Globe Life from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Finally, Truist Financial increased their price objective on Globe Life from $158.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $171.33.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of the firm’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 transaction, the chief executive officer directly owned 35,868 shares of the company’s stock, valued at approximately $5,192,969.04. This trade represents a 25.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Blinn sold 1,750 shares of Globe Life 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 completion of the transaction, the director owned 3,372 shares in the company, valued at approximately $498,752.52. This represents a 34.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,807 shares of company stock worth $12,041,286 over the last 90 days. 1.51% of the stock is owned by corporate insiders.

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.