Globe Life snížila celoroční výhled provozního zisku na akcii pro rok 2026 na 15,35–15,65 USD kvůli vysokým škodám v programu EVERY a zpožděním při zpracování pojistných nároků v programu Medicare.
, /PRNewswire/ -- Globe Life Inc. (NYSE: GL) reported today that for the quarter ended September 30, 2026, net income was $4.62 per diluted common share, compared with $4.73 per diluted common share for the year-ago quarter. Net operating income was $4.84 per diluted common share, compared with $4.81 per diluted common share for the year-ago quarter.
HIGHLIGHTS:
Net income as an ROE(1) was 19.7% for the nine months ended September 30, 2026. Book value per share was $85.35, an increase of 23% over the year-ago quarter. Net operating income as an ROE(1) excluding accumulated other comprehensive income (AOCI) was 15.9% for the nine months ended September 30, 2026. Book value per share excluding AOCI was $103.62, an increase of 11% over the year-ago quarter. Total premium revenue grew 7% over the year-ago quarter. At the American Income Life Division, life premium increased 4% and life underwriting margin(1) increased 3% over the year-ago quarter. At the Liberty National Division, life net sales increased 7% and life premium increased 4% over the year-ago quarter. Additionally, the average producing agent count increased 9% over the year-ago quarter. At the Family Heritage Division, health underwriting margin(1) increased 12%, health premium increased 8%, and health net sales increased 5% over the year-ago quarter. 1.1 million shares of Globe Life Inc. common stock were repurchased during the quarter at a total cost of $185 million. (1)
The Company updates reserve assumptions in the third quarter each year. The results include the impact of this assumption update as a before tax remeasurement gain or loss. The current period includes a remeasurement gain due to assumption updates of $120.5 million ($96.4 million and $24.1 million gain related to Life and Health respectively) as compared assumption related remeasurement gains of $134.3 million ($130.9 and $3.4 million gains related to Life and Health respectively) in the year ago quarter. These amounts, along with experience related adjustments, are included within the remeasurement gain or loss in the Condensed Consolidated Statement of Operations.
Note: As used in the earnings release, "Globe Life," the "Company," "we," "our," and "us" refer to Globe Life Inc., a Delaware corporation incorporated in 1979, its subsidiaries and affiliates.
GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
RESULTS OF OPERATIONS
Net operating income, a non-GAAP(1) financial measure, has been used consistently by Globe Life's management for many years to evaluate the operating performance of the Company, and is a measure commonly used in the life insurance industry. It differs from net income primarily because it excludes certain non-operating items such as realized investment gains and losses and certain significant and unusual items included in net income. Management believes an analysis of net operating income is important in understanding the profitability and operating trends of the Company's business. Net income is the most directly comparable GAAP measure.
The following table represents Globe Life's operating summary for the three months ended September 30, 2026 and 2025:
Operating Summary
Per Share
Three Months Ended
September 30,
Three Months Ended
September 30,
2026
2025
%
Chg.
2026
2025
%
Chg.
Insurance underwriting income(2)
$ 6.16
$ 6.13
—
$ 481,832
$ 503,135
(4)
Excess investment income(2)
0.49
0.45
9
37,945
36,883
3
Interest on debt
(0.48)
(0.44)
9
(37,814)
(36,134)
5
Parent company expense
(0.04)
(0.05)
(2,875)
(4,105)
Income tax expense
(1.16)
(1.16)
—
(90,474)
(95,242)
(5)
Stock compensation benefit (expense), net of tax
(0.12)
(0.13)
(9,776)
(10,317)
Net operating income
4.84
4.81
1
378,838
394,220
(4)
Reconciling items, net of tax:
Realized gain (loss)
(0.13)
(0.05)
(9,964)
(3,939)
Non-operating expenses
(0.01)
—
(939)
(393)
Legal proceedings
(0.09)
(0.02)
(6,828)
(2,045)
Net income(3)
$ 4.62
$ 4.73
$ 361,107
$ 387,843
Weighted average diluted shares outstanding
78,225
82,015
(1)
GAAP is defined as accounting principles generally accepted in the United States of America.
(2)
Definitions included within this document.
(3)
A GAAP-basis condensed consolidated statement of operations is included in the appendix of this report.
Note: Tables in this earnings release may not sum due to rounding.
GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
MANAGEMENT VS. GAAP MEASURES
Shareholders' equity, excluding AOCI, and book value per share, excluding AOCI, are non-GAAP measures that are utilized by management to view the business without the effect of changes in AOCI, which are primarily attributable to fluctuation in interest rates. Management views the business in this manner because it creates more meaningful and easily identifiable trends, as we exclude fluctuations resulting from changes in interest rates. Shareholders' equity and book value per share are the most directly comparable GAAP measures.
Nine Months Ended
September 30,
2026
2025
Net income
$ 919,380
$ 895,155
Net operating income
937,043
924,652
Net income as an ROE(1)
19.7 %
21.9 %
Net operating income as an ROE (excluding AOCI)(1)
15.9 %
16.6 %
September 30,
2026
2025
Shareholders' equity
$ 6,618,484
$ 5,689,088
Impact of adjustment to exclude AOCI
1,416,943
1,972,891
Shareholders' equity, excluding AOCI
$ 8,035,427
$ 7,661,979
Book value per share
$ 85.35
$ 69.52
Impact of adjustment to exclude AOCI
18.27
24.11
Book value per share, excluding AOCI
$ 103.62
$ 93.63
(1)
Calculated using average shareholders' equity for the measurement period. Refer to Note (1), page 1, regarding the impact of the annual reserve assumption update on net income and net operating income.
GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
INSURANCE OPERATIONS:
Life insurance accounted for 80% of the Company's insurance underwriting margin for the quarter and 66% of total premium revenue.
Health insurance accounted for 20% of the Company's insurance underwriting margin for the quarter and 34% of total premium revenue.
The following table summarizes Globe Life's premium revenue by product type for the three months ended September 30, 2026 and 2025:
Insurance Premium Revenue
Quarter Ended
September 30, 2026
September 30, 2025
%
Chg.
Life insurance
$ 864,552
$ 844,483
2
Health insurance
446,857
386,524
16
Total
$ 1,311,409
$ 1,231,007
7
INSURANCE UNDERWRITING INCOME
Insurance underwriting margin is management's measure of profitability of the Company's life and health segments' underwriting performance, and consists of premiums less policy obligations (excluding interest on policy liabilities), commissions and other acquisition expenses. Insurance underwriting income is the sum of the insurance underwriting margins of the life and health segments, plus annuity and other income, less administrative expenses. It excludes the investment segment, interest on debt, Parent Company expense, stock compensation expense and income taxes. Management believes this information helps provide a better understanding of the business and a more meaningful analysis of underwriting results by distribution channel. Insurance underwriting income, a non-GAAP measure, is a component of net operating income, which is reconciled to net income in the Results of Operations section above.
The following table summarizes Globe Life's insurance underwriting income by segment for the three months ended September 30, 2026 and 2025:
Insurance Underwriting Income
Quarter Ended
September 30, 2026
% of
Premium
September 30, 2025
% of
Premium
%
Chg.
Insurance underwriting margins:
Life
$ 458,168
53
$ 481,608
57
(5)
Health
115,637
26
108,374
28
7
573,805
589,982
(3)
Annuity and other income
3,184
2,920
Administrative expenses
(95,157)
(89,767)
Insurance underwriting income
$ 481,832
$ 503,135
(4)
Per share
$ 6.16
$ 6.13
—
The ratio of administrative expenses to premium was 7.3%, same as the year-ago quarter.
GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
LIFE INSURANCE RESULTS BY DISTRIBUTION CHANNEL
Our distribution channels consist of the following exclusive divisions: American Income Life Division (American Income), Liberty National Division (Liberty National), Family Heritage Division (Family Heritage), Direct to Consumer Division (Direct to Consumer); and an independent agency, United American Division (United American).
Total premium, underwriting margins, first-year collected premium and net sales by all distribution channels are shown at https://investors.globelifeinsurance.com at "Financial Reports and Other Financial Information."
Life Underwriting Margin
Quarter Ended
September 30,
2026
2025
Amount
% of Premium
Amount
% of Premium
% Chg.
American Income
$ 268,457
57
$ 261,123
58
3
Direct to Consumer
113,064
47
113,744
46
(1)
Liberty National
50,999
50
(1)
70,290
72
(1)
(27)
Other
25,648
52
(2)
36,451
73
(2)
(30)
Total
$ 458,168
53
$ 481,608
57
(5)
(1)
The decrease was due primarily to fluctuations in assumption updates. The margin excluding the impact of assumption updates for the third quarter of 2026 was 36.3%, compared to 35.9% in the year-ago quarter.
(2)
The decrease was due primarily to fluctuations in assumption updates. The margin excluding the impact of assumption updates for the third quarter of 2026 was 59.6%, compared to 65.3% in the year-ago quarter.
Life Premium
Quarter Ended
September 30,
2026
2025
%
Chg.
American Income
$ 470,362
$ 451,214
4
Direct to Consumer
243,083
244,828
(1)
Liberty National
102,000
98,190
4
Other
49,107
50,251
(2)
Total
$ 864,552
$ 844,483
2
Life Net Sales(1)
Quarter Ended
September 30,
2026
2025
%
Chg.
American Income
$ 96,611
$ 96,520
—
Direct to Consumer
24,023
27,176
(12)
Liberty National
25,978
24,296
7
Other
2,480
2,546
(3)
Total
$ 149,092
$ 150,538
(1)
(1)
Net sales is calculated as annualized premium issued, net of cancellations in the first thirty days after issue, except in the case of Direct to Consumer, where net sales is annualized premium issued at the time the first full premium is paid after any introductory offer period (typically 1 month) has expired. Management considers net sales to be a better indicator of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.
GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
HEALTH INSURANCE RESULTS BY DISTRIBUTION CHANNEL
Health Underwriting Margin
Quarter Ended
September 30,
2026
2025
Amount
% of
Premium
Amount
% of
Premium
% Chg.
United American
$ (6,371)
(3)
(1)
$ 16,098
9
(1)
Family Heritage
56,754
44
50,609
43
12
Liberty National
25,391
55
24,816
52
2
American Income
37,850
120
(2)
14,839
47
(2)
155
Direct to Consumer
2,013
10
2,012
10
—
Total
$ 115,637
26
$ 108,374
28
7
(1)
The underwriting loss was due primarily to an underwriting loss at Evry of approximately $16 million and a claims processing delay at the Centers for Medicare and Medicaid Services which resulted in approximately $7 million of excess prior period Medicare Supplement claims during the third quarter.
(2)
The increase in underwriting margin as a percentage of premium was due primarily to fluctuations in assumption updates. The margin excluding the impact of assumption updates for the third quarter of 2026 was 65.4%, compared to 59.7% in the year-ago quarter.
Health Premium
Quarter Ended
September 30,
2026
2025
%
Chg.
United American
$ 219,340
$ 169,735
29
Family Heritage
128,625
118,640
8
Liberty National
46,557
47,270
(2)
American Income
31,491
31,693
(1)
Direct to Consumer
20,844
19,186
9
Total
$ 446,857
$ 386,524
16
Health Net Sales(1)
Quarter Ended
September 30,
2026
2025
%
Chg.
United American
$ 47,687
$ 24,504
95
Family Heritage
34,645
33,063
5
Liberty National
7,374
8,482
(13)
American Income
3,888
4,623
(16)
Direct to Consumer
517
745
(31)
Total
$ 94,111
$ 71,417
32
(1)
Net sales is calculated as annualized premium issued, net of cancellations in the first thirty days after issue, except in the case of Direct to Consumer, where net sales is annualized premium issued at the time the first full premium is paid after any introductory offer period (typically 1 month) has expired. Management considers net sales to be a better indicator of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.
GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
PRODUCING EXCLUSIVE AGENT COUNT RESULTS BY DISTRIBUTION CHANNEL
Quarterly Average
Producing Agent Count(1)
Quarter Ended
Quarter Ended
September 30,
June 30,
2026
2025
% Chg.
2026
American Income
11,331
12,230
(7)
11,391
Liberty National
4,187
3,847
9
4,194
Family Heritage
1,565
1,553
1
1,608
(1)
The quarterly average producing agent count is based on the actual count at the beginning and end of each week during the period.
INVESTMENTS
Management uses excess investment income as the measure to evaluate the performance of the investment segment. It is defined as net investment income less the required interest attributable to policy liabilities. We also view excess investment income per diluted common share as an important and useful measure to evaluate performance of the investment segment, since it takes into consideration our stock repurchase program.
The following table summarizes Globe Life's investment income, excess investment income, and excess investment income per diluted common share.
Excess Investment Income
Quarter Ended
September 30,
2026
2025
%
Chg.
Net investment income
$ 295,895
$ 286,013
3
Required interest on policy liabilities(1)
(257,950)
(249,130)
4
Excess investment income
$ 37,945
$ 36,883
3
Per share
$ 0.49
$ 0.45
9
(1)
Interest on policy liabilities, at original discount rates, is a component of total policyholder benefits, a GAAP measure.
Net investment income and average invested assets both increased 3%. Required interest on policy liabilities and average policy liabilities both increased 4%.
GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
The composition of the investment portfolio at book value at September 30, 2026 is as follows:
Investment Portfolio
As of
September 30, 2026
Amount
% of Total
Fixed maturities at fair value(1)
$ 16,873,879
86
Mortgage loans
459,302
2
Policy loans
771,652
4
Other long-term investments(2)
1,433,301
7
Short-term investments
95,244
1
Total
$ 19,633,378
(1)
As of September 30, 2026, fixed maturities at amortized cost were $19.6 billion, net of $3.3 million of allowance for credit losses.
(2)
Includes $1.06 billion of investments accounted for under the fair value option which have a cost of $1.05 billion as of September 30, 2026.
Fixed maturities at amortized cost, net of allowance for credit losses, by asset class as of September 30, 2026 are as follows:
Fixed Maturity Portfolio by Sector
As of
September 30, 2026
Investment
Grade
Below
Investment
Grade
Total
Amortized
Cost, net
Corporate bonds
$ 14,884,822
$ 518,004
$ 15,402,826
Municipals
3,476,434
1,958
3,478,392
Government, agencies, and GSEs(1)
466,313
—
466,313
Other asset-backed securities
160,911
52,649
213,560
Total
$ 18,988,480
$ 572,611
$ 19,561,091
(1)
Government-Sponsored Enterprises
Below are fixed maturities available for sale by amortized cost, allowance for credit losses, and fair value at September 30, 2026 and the corresponding amounts of net unrealized gains and losses recognized in accumulated other comprehensive income (loss).
As of
Amortized
Cost
Allowance for
Credit Losses
Net Unrealized
Gains (Losses)
Fair
Value
September 30, 2026
$ 19,564,388
$ (3,297)
$ (2,687,212)
$ 16,873,879
At amortized cost, net of allowance for credit losses, and at fair value, 97% of fixed maturities were rated "investment grade." The fixed maturity portfolio earned an annual taxable equivalent effective yield of 5.33% during the third quarter of 2026, compared with 5.26% in the year-ago quarter.
Globe Life is not a party to any credit default swaps and does not participate in securities lending.
GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
Comparable information for acquisitions of fixed maturity and other investments is as follows:
Fixed Maturity Acquisitions
Quarter Ended
September 30,
2026
2025
Amount
$ 832,540
$ 279,333
Average annual effective yield
6.4 %
6.3 %
Average rating
A
A+
Average life (in years) to:
Next call
32.5
21.8
Maturity
34.9
29.3
Other Investment Acquisitions
Quarter Ended
September 30,
2026
2025
Limited partnerships
$ 23,069
$ 34,143
Mortgage loans
70,172
51,886
Common stock
970
751
Total
$ 94,211
$ 86,780
SHARE REPURCHASES:
During the quarter, the Company repurchased 1.1 million shares of Globe Life Inc. common stock at a total cost of $185 million and an average share price of $175.61. The Company expects to spend $725 million to $775 million to repurchase common stock for the full year 2026, compared to the previous guidance of $670 million to $700 million.
LIQUIDITY/CAPITAL:
Globe Life's operations consist primarily of writing basic protection life and supplemental health insurance policies which generate strong and stable cash flows. These cash flows are not impacted by volatile equity markets. Liquidity at the Parent Company is sufficient to meet additional capital needs of the insurance companies.
EARNINGS GUIDANCE FOR THE YEAR ENDING DECEMBER 31, 2026 and 2027:
The Company adjusted full-year 2026 earnings guidance to a range of $15.35 to $15.65 due to two items impacting the results at our United American General Agency division, rather than a fundamental change in our underlying core business: high-severity claims at Evry, a developing group health business still growing and scaling to a size that will enable stable results, and a claims processing delay at the Centers for Medicare and Medicaid Services which resulted in excess Medicare Supplement claims during the third quarter. For the year ending December 31, 2027, we estimate that net operating income per share will be in the range of $16.10 to $17.10, an increase of 7.1% at the midpoint.
NON-GAAP MEASURES:
In this news release, Globe Life includes non-GAAP measures to enhance investors' understanding of management's view of the business. The non-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. Globe Life's definitions of non-GAAP measures may differ from other companies' definitions. More detailed financial information, including various GAAP and non-GAAP measurements, is located at https://investors.globelifeinsurance.com on the Investors page under "Financial Reports and Other Financial Information."
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements within the meaning of the federal securities laws. These prospective statements reflect management's current expectations, but are not guarantees of future performance. Whether or not actual results differ materially from forward-looking statements may depend on numerous foreseeable and unforeseeable events or developments, which may be national in scope, related to the insurance industry generally, or applicable to the Company specifically. Such events or developments could include, but are not necessarily limited to:
1) Economic and other conditions, including the impact of inflation, immigration, geopolitical events, escalating tariff and non-tariff trade measures imposed by the U.S. and other countries, and other governmental actions on the U.S. economy and/or U.S. consumer confidence, leading to unexpected changes in lapse rates and/or sales of our policies, as well as levels of mortality, morbidity, and utilization of health care services that differ from Globe Life's assumptions;
2) Regulatory developments, including changes in accounting standards or governmental regulations (particularly those impacting taxes and changes to the Federal Medicare program that would affect Medicare Supplement);
3) Market trends in the senior-aged health care industry that provide alternatives to traditional Medicare (such as Health Maintenance Organizations and other managed care or private plans) and that could affect the sales of traditional Medicare Supplement insurance;
4) Ratings changes with respect to our financial strength and credit ratings and potential adverse impacts to liquidity;
6) General economic, industry sector or individual debt issuers' financial conditions (including developments and volatility arising from geopolitical events, particularly in certain industries that may compromise part of our investment portfolio) that may affect the current market value of securities we own, or that may impair an issuer's ability to make principal and/or interest payments due on those securities;
7) Changes in the competitiveness of the Company's products and pricing;
8) Litigation results and regulatory actions;
9) Levels of administrative and operational efficiencies that differ from our assumptions (including any reduction in efficiencies resulting from increased costs arising from the impact of higher than anticipated inflation);
10) The ability to obtain timely and appropriate premium rate increases for health insurance policies from our regulators;
11) The ability of our subsidiaries to pay dividends to the Parent Company and to receive required regulatory approvals on such amounts;
12) The customer response to new products and marketing initiatives;
13) Reported amounts in the consolidated financial statements which are based on management estimates and judgments which may differ from the actual amounts ultimately realized;
14) Compromise by a malicious actor or other event that causes a loss of secure data from, or inaccessibility to, our computer and other information technology systems;
15) The Company's ability to attract and retain agents;
16) The severity, magnitude, and impact of natural or man-made catastrophic events, including but not limited to pandemics, tornadoes, hurricanes, earthquakes, war and terrorism, on our operations and personnel, commercial activity and demand for our products; and
17) Globe Life's ability to access the commercial paper and debt markets, particularly if such markets become unpredictable or unstable for a certain period.
Readers are also directed to consider other risks and uncertainties described in other documents on file with the Securities and Exchange Commission, including those described in the "Risk Factors" section of our most recent Annual Report on Form 10-K. Globe Life specifically disclaims any obligation to update or revise any forward-looking statement because of new information, future developments or otherwise.
EARNINGS RELEASE CONFERENCE CALL WEBCAST:
Globe Life will provide a live audio webcast of its third quarter 2026 earnings release conference call with financial analysts at 11:00 am (Eastern) tomorrow, October 22, 2026. Access to the live webcast and replay will be available at https://investors.globelifeinsurance.com on the Calls and Meetings page, at the Conference Calls on the Web icon. Immediately following this press release, supplemental financial reports will be available before the conference call on the Investors page menu of the Globe Life website at "Financial Reports."
APPENDIX
GLOBE LIFE INC.
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended
September 30,
Nine Months Ended
September 30,
2026
2025
2026
2025
Revenue:
Life premium
$ 864,552
$ 844,483
$ 2,578,524
$ 2,513,890
Health premium
446,857
386,524
1,300,620
1,134,414
Total premium
1,311,409
1,231,007
3,879,144
3,648,304
Net investment income
295,895
286,013
879,539
848,796
Realized gains (losses)
(12,612)
(4,987)
(6,952)
(23,476)
Other income
1,245
955
3,555
1,073
Total revenue
1,595,937
1,512,988
4,755,286
4,474,697
Benefits and expenses:
Life policyholder benefits(1)
414,701
381,511
1,447,510
1,410,622
Health policyholder benefits(2)
272,129
227,940
812,875
691,793
Other policyholder benefits
7,268
7,171
21,548
20,970
Total policyholder benefits
694,098
616,622
2,281,933
2,123,385
Amortization of deferred acquisition costs
124,654
114,074
363,473
330,990
Commissions, premium taxes, and non-deferred acquisition costs
174,863
157,494
518,503
479,228
Other operating expense
123,274
111,562
353,260
328,601
Interest expense
37,814
36,134
107,864
106,011
Total benefits and expenses
1,154,703
1,035,886
3,625,033
3,368,215
Income before income taxes
441,234
477,102
1,130,253
1,106,482
Income tax benefit (expense)
(80,127)
(89,259)
(210,873)
(211,327)
Net income
$ 361,107
$ 387,843
$ 919,380
$ 895,155
Basic net income per common share
$ 4.71
$ 4.81
$ 11.86
$ 10.91
Diluted net income per common share
$ 4.62
$ 4.73
$ 11.64
$ 10.77
(1)
Net of total remeasurement, including both the impact of assumption changes and the effect of actual to expected experience adjustments, gain of $116.7 million before tax for the three months ended September 30, 2026 and a total remeasurement gain of $149.5 million before tax for the same period in 2025. Net of total remeasurement gain of $159.1 million for the nine months ended September 30, 2026, and a total remeasurement gain of $174.7 million for the same period in 2025.
(2)
Net of total remeasurement, including both the impact of assumption changes and the effect of actual to expected experience adjustments, gain of $29.1 million before tax for the three months ended September 30, 2026 and a total remeasurement gain of $8.8 million before tax for the same period in 2025. Net of a total remeasurement gain of $36.5 million for the nine months ended September 30, 2026, and a total remeasurement gain of $13.2 million for the same period in 2025.
Key Takeaways GL anticipates life underwriting margins of 52-53% and health margins of 29-32%, aided by premium growth.
Net investment income is expected to reach $297 million, up 3.8% year over year, on higher earned yields.
Life and health assumption updates are projected at $110-$130M, while share buybacks could boost earnings.
Globe Life Inc. (GL - Free Report) is expected to register an improvement in both top and bottom lines when it reports third-quarter 2026 results on Oct. 21, after market close.
The Zacks Consensus Estimate for GL’s third-quarter revenues is pegged at $1.61 billion, indicating 5.9% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $4.87 per share. The Zacks Consensus Estimate for GL’s third-quarter earnings has moved down 0.4% in the past 30 days. The estimate suggests a year-over-year increase of 1.2%.
What the Zacks Model UnveilsOur proven model predicts an earnings beat for Globe Life this time. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), which increases the chances of an earnings beat.
Earnings ESP: Globe Life has an Earnings ESP of +0.14%. This is because the Most Accurate Estimate of $4.88 is pegged higher than the Zacks Consensus Estimate of $4.87. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: Globe Life currently carries a Zacks Rank #3.
Factors Likely to Shape Q3 Results of GLPremium growth and lower policy obligations as a percent of premium are likely to have driven the life insurance segment’s underwriting margin. Given the estimated benefit from assumption updates in the third quarter, GL anticipates third-quarter life underwriting margin as a percent of premium to be in the range of 52% to 53%.
Higher premiums from strong growth in Medicare Supplement sales and the positive impact of higher premium rates on individual Medicare Supplement policies as a result of approved rate increases are likely to have driven the health segment’s underwriting margin. GL anticipates the third-quarter health underwriting margin as a percent of premium to be in the range of 29% to 32%.
Higher earned yields on fixed maturities, commercial mortgage loans and other long-term investments are expected to have aided net investment income. The Zacks Consensus Estimate for third-quarter 2026 net investment income is pegged at $297 million, indicating an increase of 3.8% from the year-ago reported quarter.
Insurance administrative expenses are likely to have increased owing to higher employee costs, which include salaries and other costs, in addition to higher information technology expenses.
Continued share buybacks are likely to have provided additional support to the bottom line.
GL anticipates third-quarter life and health assumption updates in the range of $110 million to $130 million, with the life assumption range update in the band of $90 million to $100 million and the health assumption update in the range of $20 million to $30 million.
Other Stocks to ConsiderHere are some other finance stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
RenaissanceRe Holdings Ltd. (RNR - Free Report) has an Earnings ESP of +9.02% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $9.28, indicating a year-over-year decrease of 40.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
RNR’s earnings beat estimates in each of the last four reported quarters.
Cincinnati Financial Corporation (CINF - Free Report) has an Earnings ESP of +13.87% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $2.01, indicating a year-over-year decrease of 29.4%.
CINF’s earnings beat estimates in three of the last four reported quarters and missed in one.
Arch Capital Group Ltd. (ACGL - Free Report) has an Earnings ESP of +11.70% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $2.05, indicating a year-over-year decrease of 25.9%.
ACGL’s earnings beat estimates in each of the last four reported quarters.
Globe Life ve 2. čtvrtletí zvýšila zdravotní pojistné o 16 % meziročně, výrazně nad 3% růstem životního pojistného. Firma čeká v roce 2026 růst zdravotního pojistného o 14–16 %.
Key Takeaways Globe Life's health premiums rose 16% year over year in the second quarter, ahead of life premium growth. United American's health premiums increased 29%, while Family Heritage posted 9% growth. Globe Life expects 2026 health premiums to grow 14-16% versus 2.5-3% for life premiums. Globe Life Inc.’s (GL - Free Report) health insurance business is becoming an increasingly important source of premium growth and diversification following its second-quarter 2026 performance. Health premiums increased 16% year over year in the second quarter of 2026, substantially ahead of the 3% growth in life premiums. The stronger momentum reflects continued expansion across the company’s health-focused businesses, particularly United American and Family Heritage.
United American was a key contributor, with health premiums rising 29% year over year, while Family Heritage posted 9% growth. These businesses provide GL with exposure to supplemental health products, allowing it to benefit from demand for coverage that helps consumers manage healthcare costs.
Rate actions are another important catalyst. GL expects approximately $65 million of additional 2026 premium from approved Medicare Supplement rate increases. These increases can support premium growth and help offset higher medical costs.
GL’s outlook further underscores the increasing importance of health insurance. It expects health premiums to grow 14-16% in 2026 compared with only 2.5-3% growth in life premiums. Total premiums are projected to increase 6.5-7%. As a result, health insurance is expected to grow much faster than the company's overall life business and become a larger contributor to consolidated premium growth.
Another potential advantage is diversification. A stronger health business gives GL another avenue for growth as its mature life insurance operations expand at a slower pace. This could make the company’s premium mix more balanced and reduce its dependence on life insurance for organic growth.
Strong health premium growth, particularly at United American, approved Medicare Supplement rate increases, and GL’s solid outlook provide a meaningful foundation for continued expansion.
What About Its Peers?Aflac Incorporated’s (AFL - Free Report) supplemental health insurance is central to its business model. Aflac’s supplemental health products are designed to help cover expenses that traditional health insurance may not fully cover, including products related to accident, cancer, critical illness, hospital care, dental and vision. In the United States, the company sells through both individual and group/employer channels. The scale of the business is significant. In second-quarter 2026, Aflac reported $3.25 billion of net earned premiums, principally from supplemental health insurance compared with $3.47 billion a year earlier.
Unum Group (UNM - Free Report) , through its Colonial Life business, offers voluntary benefits such as cancer, critical illness and accident coverage, which complement traditional health insurance. In the second quarter of 2026, Colonial Life’s adjusted operating income increased 11.9% to $131.4 million, supported partly by favorable claims experience in life, cancer and critical-illness products. UNM’s supplemental and voluntary business also generated $133.3 million of adjusted operating income, up 8.2% year over year. These results highlight the earnings potential of supplemental health products and provide a useful industry comparison for Globe Life as its health business expands faster than its traditional life operations.
GL’s Price PerformanceShares of GL have gained 17.8% in the past year, outperforming the industry’s growth.
Image Source: Zacks Investment Research
GL’s OvervaluationThe stock is overvalued compared with its industry. Its forward price-to-book value of 2.13X is higher than the industry average of 1.67X. It carries a Value Score of B.
Image Source: Zacks Investment Research
Estimate Movement for GLThe Zacks Consensus Estimate for GL’s 2026 third-quarter earnings per share (EPS) moved up 2.3%, and the fourth-quarter EPS has moved down 1.3% in the past 60 days. The same for full-year 2026 EPS moved up 0.1%, and 2027 EPS has moved down 0.5% in the past 60 days.
State Street zvýšila ve 2. čtvrtletí podíl v Globe Life o 2,1 % na 3 735 409 akcií. Firma tak držela zhruba 4,86 % společnosti v hodnotě 667,4 milionu USD.
State Street Corp increased its position in Globe Life Inc. (NYSE:GL – Free Report) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,735,409 shares of the company’s stock after purchasing an additional 76,745 shares during the quarter. State Street Corp owned approximately 4.86% of Globe Life worth $667,443,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new position in shares of Globe Life during the fourth quarter valued at $2,073,000. Amundi grew its holdings in shares of Globe Life by 307.4% during the second quarter. Amundi now owns 162,223 shares of the company’s stock valued at $28,986,000 after buying an additional 122,402 shares during the last quarter. Norges Bank bought a new stake in shares of Globe Life during the fourth quarter valued at approximately $155,617,000. Sei Investments Co. raised its holdings in Globe Life by 49.1% in the 1st quarter. Sei Investments Co. now owns 71,795 shares of the company’s stock worth $9,993,000 after acquiring an additional 23,632 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Globe Life by 11.3% in the 4th quarter. Legal & General Group Plc now owns 178,297 shares of the company’s stock valued at $24,937,000 after acquiring an additional 18,104 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.
Insider Buying and Selling at Globe Life In other news, EVP Robert Hensley sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the sale, the executive vice president owned 12,384 shares of the company’s stock, valued at $2,106,146.88. The trade was a 44.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Majors sold 37,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total value of $6,609,680.00. Following the completion of the sale, the executive vice president owned 53,518 shares of the company’s stock, valued at $9,560,455.52. This trade represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 143,650 shares of company stock valued at $25,793,717 in the last ninety days. Corporate insiders own 2.11% of the company’s stock.
Globe Life Stock Down 0.4% GL stock opened at $168.82 on Thursday. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 11.21 and a beta of 0.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The business’s 50-day moving average is $176.65 and its two-hundred day moving average is $163.20. Globe Life Inc. has a fifty-two week low of $127.85 and a fifty-two week high of $191.55. Globe Life (NYSE:GL – Get Free Report) 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 the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $3.05 earnings per share. The company’s revenue for the quarter 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. As a group, analysts forecast that Globe Life Inc. will post 15.71 earnings per share for the current year.
Globe Life announced that its board has initiated a stock buyback plan on Monday, August 10th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the company to buy up to 17.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Globe Life Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors 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 0.8%. The ex-dividend date is Monday, October 5th. Globe Life’s payout ratio is 8.76%.
Analyst Upgrades and Downgrades Several analysts have commented on GL shares. Wells Fargo & Company increased their target price on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler upped their price target on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Morgan Stanley increased 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. TD Cowen lifted their price objective on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average price target of $191.67.
Get Our Latest Stock Report on Globe Life
About Globe Life (Free Report)
Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.
Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.
The company’s principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.
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Globe Life čeká v roce 2026 růst celkových pojistných výnosů o 6,5–7 % a zdravotních prémií o 14–16 %. Firma zároveň plánuje za rok 2026 zpětné odkupy za 670–700 milionů USD.
Key Takeaways Globe Life expects 2026 total premium revenues to grow 6.5-7%, with health premiums up 14-16%. AI investments target better underwriting, customer engagement & lower administrative costs. Globe Life expects $670-$700 million of 2026 buybacks, alongside approximately $95 million of dividends. Shares of Globe Life Inc. (GL - Free Report) have gained 20% in the past year, outperforming its industry, the Finance sector and the Zacks S&P 500 composite’s growth of 10.4%, 7% and 14.8%, respectively.
The insurer has a market capitalization of $13.23 billion. The average volume of shares traded in the last three months was 0.5 million.
Image Source: Zacks Investment Research
GL Shares are AffordableGlobe Life shares are trading at a discount compared to the industry. Its forward price-to-earnings multiple of 10.58X is lower than the industry average of 13.29X, the Finance sector’s 16.29X and the Zacks S&P 500 Composite’s 19.54X. Also, it has a Value Score of B.
Shares of other insurers like Unum Group (UNM - Free Report) and AMERISAFE, Inc. (AMSF - Free Report) are also trading at a discount to the industry average, while Aflac Incorporated (AFL - Free Report) is trading at a multiple.
Image Source: Zacks Investment Research
GL Trading Above 200-Day Moving AverageShares of Globe Life closed at $172.26 on Thursday and are trading above the 200-day simple moving average (SMA) of $155.35, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.
GL’s Growth Projection EncouragesThe Zacks Consensus Estimate for Globe Life’s 2026 earnings per share indicates a year-over-year increase of 8.2%. The consensus estimate for revenues is pegged at $6.40 billion, implying a year-over-year improvement of 6.3%.
The consensus estimate for 2027 earnings per share and revenues indicates an increase of 5.1% and 6%, respectively, from the corresponding 2026 estimates.
Target Price Reflects Potential UpsideBased on short-term price targets offered by 13 analysts, the Zacks average price target is $192.46 per share. The average indicates a potential 11.3% upside from the last closing price.
Image Source: Zacks Investment Research
GL’s Return on CapitalGL’s trailing 12-month return on equity is 20.5%, ahead of the industry average of 13.3%. Return on equity, a profitability measure, reflects how effectively a company is utilizing its shareholders’ equity.
Also, return on invested capital (ROIC) in the trailing 12 months was 12.2%, above the industry average of 6.3%. Its ROIC has increased over the last few quarters amid capital investment during the same period. This reflects the company’s efficiency in utilizing funds to generate income.
Key Points to Note for Globe LifeGlobe Life continues to strengthen its growth outlook through a combination of premium expansion, technology adoption, distribution investments, rising investment income and shareholder-friendly capital deployment. The company’s diversified product portfolio and multiple distribution channels position it to capture opportunities across life and supplemental health markets.
Globe Life’s premium growth remains a key earnings driver. Management expects 2026 total premium revenue to increase 6.5-7%, with health premiums projected to grow 14-16%. Medicare Supplement rate increases and stronger sales at United American and Family Heritage are supporting health growth. Approximately $65 million of additional 2026 premium is expected from approved rate increases on individual Medicare Supplement policies.
Technology investments could further enhance profitability. Globe Life is expanding artificial intelligence across applications, customer service and claims processing. Broader AI adoption is expected to improve underwriting, sales productivity and customer engagement while gradually lowering administrative costs.
Distribution expansion is another important growth lever. Management expects mid-single-digit growth in agent count and life sales at American Income in the second half. Liberty National and Family Heritage also posted agent-count growth, supporting future premium generation.
Globe Life’s solid capital position enables meaningful shareholder returns. The company repurchased 1.1 million shares for $175 million in the second quarter and expects 2026 buybacks of $670-$700 million, alongside approximately $95 million of dividends.
ConclusionOverall, Globe Life’s growth prospects remain supported by steady premium expansion, particularly in supplemental health, alongside investments in technology and distribution. Rising AI adoption could improve operating efficiency and support underwriting and sales productivity, while favorable investment yields continue to bolster earnings.
With multiple growth drivers spanning premiums, productivity, investment income and capital returns, Globe Life is positioned to sustain earnings momentum over the longer term.
Higher return on capital, affordability of shares, and solid growth projections should continue to benefit the insurer over the long term. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bank of Nova Scotia ve 2. čtvrtletí koupila 31 404 akcií Globe Life za zhruba 5,611 milionu USD. Globe Life zároveň v pondělí 10. srpna oznámila program zpětného odkupu akcií za 2,50 miliardy USD.
Bank of Nova Scotia purchased a new position in shares of Globe Life Inc. (NYSE:GL – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,404 shares of the company’s stock, valued at approximately $5,611,000.
A number of other hedge funds have also recently made changes to their positions in GL. Hilton Head Capital Partners LLC bought a new stake in shares of Globe Life in the 4th quarter valued at about $30,000. Johnson Financial Group Inc. bought a new position in Globe Life during the 2nd quarter worth approximately $39,000. CYBER HORNET ETFs LLC bought a new position in Globe Life during the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc purchased a new position in Globe Life in the 2nd quarter worth approximately $31,000. Finally, Torren Management LLC purchased a new position in Globe Life in the 4th quarter worth approximately $37,000. 81.61% of the stock is currently owned by institutional investors.
Globe Life Price Performance GL opened at $172.44 on Wednesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 11.45 and a beta of 0.48. The stock has a fifty day simple moving average of $178.54 and a two-hundred day simple moving average of $159.03. Globe Life Inc. has a 12-month low of $127.85 and a 12-month high of $191.55.
Globe Life (NYSE:GL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm earned $3.05 EPS. The company’s revenue was up 8.0% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Research analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year. Globe Life declared that its board has initiated a share buyback program on Monday, August 10th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Globe Life Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a $0.33 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. Globe Life’s payout ratio is presently 8.76%.
Insider Activity at Globe Life In other news, CEO James Matthew Darden sold 50,000 shares of the stock in a transaction that occurred 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 owned 58,451 shares in the company, valued at $10,663,215.93. This represents a 46.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 53,518 shares in the company, valued at approximately $9,560,455.52. This represents a 40.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 151,908 shares of company stock worth $27,239,981 in the last ninety days. 2.11% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In Several research analysts have recently issued reports on GL shares. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Wells Fargo & Company increased their price target on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods cut their price target on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Jefferies Financial Group boosted their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Weiss Ratings downgraded shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research note 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 issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.67.
Check Out Our Latest Stock Report on Globe Life
Globe Life Profile (Free Report)
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.
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Algert Global LLC ve 2. čtvrtletí snížila podíl v Globe Life o 49,2 % a prodala 34 510 akcií. Po prodeji držela 35 637 akcií v hodnotě 6,368 milionu USD.
Algert Global LLC reduced its stake in shares of Globe Life Inc. (NYSE:GL – Free Report) by 49.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,637 shares of the company’s stock after selling 34,510 shares during the quarter. Algert Global LLC’s holdings in Globe Life were worth $6,368,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Globe Life by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock worth $1,411,311,000 after acquiring an additional 86,349 shares in the last quarter. BlackRock Inc. bought a new position in shares of Globe Life during the second quarter valued at $987,901,000. Invesco Ltd. grew its stake in shares of Globe Life by 2.7% in the fourth quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock worth $552,262,000 after acquiring an additional 102,445 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Globe Life by 10.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock valued at $327,479,000 after buying an additional 217,331 shares during the period. Finally, Morgan Stanley increased its position in Globe Life by 7.2% during the fourth quarter. Morgan Stanley now owns 1,860,257 shares of the company’s stock valued at $260,176,000 after acquiring an additional 125,567 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.
Analyst Ratings Changes Several analysts have issued reports on GL shares. Keefe, Bruyette & Woods cut their price target on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, July 24th. Jefferies Financial Group raised their price objective on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Wells Fargo & Company increased their price objective on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their target price on Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, TD Cowen raised their price objective on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.67.
Read Our Latest Report on Globe Life Insider Activity at Globe Life In other news, Director Cheryl Alston sold 8,258 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $179.24, for a total transaction of $1,480,163.92. Following the sale, the director owned 16,621 shares of the company’s stock, valued at approximately $2,979,148.04. This trade represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Peter Kalmbach sold 25,650 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $178.58, for a total transaction of $4,580,577.00. Following the completion of the transaction, the chief financial officer directly owned 50,568 shares in the company, valued at $9,030,433.44. This trade represents a 33.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 151,908 shares of company stock worth $27,239,981 over the last ninety days. Company insiders own 2.11% of the company’s stock.
Globe Life Stock Performance Shares of GL opened at $175.56 on Thursday. The stock has a 50-day moving average of $178.63 and a two-hundred day moving average of $159.23. The stock has a market cap of $13.49 billion, a P/E ratio of 11.66 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a one year low of $127.85 and a one year high of $191.55.
Globe Life (NYSE:GL – Get Free Report) last announced 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). The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, research analysts predict that Globe Life Inc. will post 15.71 EPS for the current year.
Globe Life Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is presently 8.76%.
Globe Life declared that its Board of Directors has initiated a share repurchase program on Monday, August 10th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 17.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
About Globe Life (Free Report)
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.
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Globe Life ve 2. čtvrtletí 2026 zvýšila výnosy ze zdravotního pojištění o 16 % meziročně, tažené United American a Family Heritage. Zdravotní pojištění už tvoří 34 % celkových pojistných výnosů, proti 31 % před rokem.
Key Takeaways Globe Life's health premium revenue rose 16% in Q2 2026, led by United American and Family Heritage.Health insurance grew to 34% of total premium revenue, up from 31% a year earlier.Approved rate increases are expected to generate about $65 million of additional premium. Globe Life Inc. (GL - Free Report) is benefiting from strong momentum in its health insurance business. Rising healthcare spending, strong Medicare Supplement demand, rate increases and expanding distribution are driving growth and creating a foundation for higher earnings.
Health premium revenues increased 16% year over year in the second quarter of 2026. United American's health premiums rose 29%, while Family Heritage's increased 9%. Health insurance accounted for 34% of total premium revenues, up from 31% a year earlier, highlighting its growing contribution to Globe Life's business.
Rising healthcare spending could further support demand for supplemental health coverage. The Centers for Medicare & Medicaid Services projects national health expenditures to grow 5.4% annually through 2034. Strong Medicare Supplement sales are supporting Globe Life's health premium growth, while approved rate increases on individual health products are expected to generate approximately $65 million of additional premium.
Globe Life's distribution network provides another growth driver. In the second quarter of 2026, Family Heritage's average producing agent count increased 7%, supporting broader customer reach and health sales.
However, medical inflation remains a challenge for Accident & Health insurers. Higher medical costs can pressure claims and underwriting margins, although Globe Life's rate increases should help offset some of this pressure.
Overall, strong demand, favorable rates and expanding distribution should support Globe Life's health business. The Health Insurance segment is becoming an important contributor to GL's premium growth, underwriting profitability and earnings momentum.
What About Its Peers?Aflac Incorporated's (AFL - Free Report) supplemental health business remains a key driver of its growth, with products designed to help customers cover expenses not fully paid by major medical insurance. The company is benefiting from demand for supplemental coverage as healthcare costs rise, while its broad distribution network supports policy sales and premium growth. Net earned premiums increased 2.3% in the second quarter of 2026.
CNO Financial Group's (CNO - Free Report) health business provides supplemental health and Medicare Supplement products to middle-income Americans. Health collected premiums increased 5.5% year over year to $432 million in the second quarter of 2026. Its health business benefits from demand for products that help customers manage healthcare expenses and financial protection needs.
GL’s Price PerformanceShares of GL have gained 22.7% in the past year compared with the industry’s growth of 10.9%.
Image Source: Zacks Investment Research
GL’s Discounted ValuationThe stock is undervalued compared with its industry. It is currently trading at a price-to-earnings value multiple of 10.54, lower than the industry average of 13.13X. It has a Value Score of B.
Image Source: Zacks Investment Research
Favorable Estimate Movement for GLThe Zacks Consensus Estimate for Globe Life’s 2026 earnings per share (EPS) indicates a year-over-year increase of 8.2%. The consensus estimate for revenues is pegged at $6.40 billion, implying a year-over-year improvement of 6.3%.
The consensus estimate for 2027 EPS and revenues indicates an increase of 5.1% and 6.1%, respectively, from the corresponding 2026 estimates.
The Zacks Consensus Estimate for 2026 earnings moved 0.4% north, while 2027 earnings have moved 0.6% south over the last 30 days.
Image Source: Zacks Investment Research
GL stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BlackRock ve 2. čtvrtletí nakoupil novou pozici v Globe Life za zhruba 987,9 mil. USD a drží asi 7,12 % společnosti. Akcie GL zároveň po otevření přidaly 0,3 %.
BlackRock Inc. purchased a new position in Globe Life Inc. (NYSE:GL – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,528,883 shares of the company’s stock, valued at approximately $987,901,000. BlackRock Inc. owned approximately 7.12% of Globe Life at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC purchased a new position in shares of Globe Life during the second quarter valued at approximately $28,000. Hilton Head Capital Partners LLC purchased a new stake in Globe Life in the fourth quarter worth $30,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life during the second quarter worth $31,000. Torren Management LLC purchased a new stake in shares of Globe Life during the fourth quarter valued at $37,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of Globe Life by 41.1% during the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock valued at $44,000 after purchasing an additional 92 shares during the period. 81.61% of the stock is owned by institutional investors.
Insider Transactions at Globe Life In other Globe Life news, 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 transaction of $1,480,163.92. Following the transaction, the director directly owned 16,621 shares of the company’s stock, valued at $2,979,148.04. This trade represents a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Clay Majors sold 37,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total value of $6,609,680.00. Following the sale, the executive vice president owned 53,518 shares of the company’s stock, valued at approximately $9,560,455.52. This trade represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 151,908 shares of company stock worth $27,239,981 in the last ninety days. Company insiders own 2.11% of the company’s stock.
Analyst Ratings Changes GL has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler upped their target price on Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Weiss Ratings cut Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. TD Cowen lifted their price target on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.67. Get Our Latest Analysis on Globe Life
Globe Life Trading Up 0.3% Shares of NYSE:GL opened at $171.07 on Friday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 12-month low of $127.85 and a 12-month high of $191.55. The business has a 50 day moving average of $178.36 and a two-hundred day moving average of $158.52. The company has a market capitalization of $13.15 billion, a PE ratio of 11.36 and a beta of 0.48.
Globe Life (NYSE:GL – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. Globe Life’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, analysts forecast that Globe Life Inc. will post 15.71 EPS 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 buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 17.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Globe Life Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is currently 8.76%.
Globe Life Company Profile (Free Report)
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.
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Globe Life ve 2. čtvrtletí 2026 zvýšila upravený čistý zisk z provozu na akcii na 3,61 USD, ale za odhady zaostala. Firma zároveň zvedla celoroční výhled na 15,55–15,95 USD na akcii.
It has been about a month since the last earnings report for Globe Life (GL - Free Report) . Shares have lost about 0.3% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Globe Life due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Globe Life Inc. before we dive into how investors and analysts have reacted as of late.
Globe Life Q2 Earnings Miss Estimates on Escalating Expenses
Globe Life Inc. reported second-quarter 2026 net operating income of $3.61 per share, which missed the Zacks Consensus Estimate of $3.67 by 1.6%. The bottom line, however, improved 10% year over year, driven by higher insurance underwriting income. The quarter benefited from higher premium revenues, stronger insurance underwriting income, and increased investment income. Higher premium revenues reflected continued strength across the company’s life and health insurance businesses.
GL Benefits From Premium Growth Across Insurance BusinessTotal premium revenues increased 7% year over year to $1.30 billion. Life insurance premiums rose 3% to $860.8 million, while health insurance premiums climbed 16% to $436.9 million, supported by strong growth at United American and Family Heritage. Operating revenues increased 8% year over year to $1.60 billion, driven by higher premium income, stronger net investment income and realized investment gains. The top line surpassed the Zacks Consensus Estimate by 0.6%.
Globe Life Posts Higher Underwriting and Investment IncomeInsurance underwriting income increased 5% year over year to $370.3 million. Life underwriting income rose 6% to $359.4 million, while health underwriting income edged up 1% to $99.3 million. Net investment income rose 4% year over year to $293.8 million. Excess investment income, a key profitability measure, rose 10% to $38.3 million as higher investment income more than offset increased required interest on policy liabilities.
Administrative expenses were up 6.2% year over year to $91.4 million.
Total benefits and expenses increased 6.5% year over year to $1.2 billion, primarily due to higher total policyholder benefits, amortization of deferred acquisition costs, commissions, premium taxes and non-deferred acquisition costs, interest expense and other operating expense.
GL's Distribution Channels Deliver Mixed ResultsLife insurance premium growth was led by the American Income division, where premiums increased 5% year over year to $466.3 million. Liberty National premiums rose 3%, while Direct to Consumer premiums slipped 1%. Overall life net sales declined 3% to $149.6 million as weaker Direct to Consumer sales more than offset Liberty National's gains.
Health insurance continued to outperform. United American health premiums surged 29% year over year to $211.4 million, while Family Heritage premiums increased 9%. Total health net sales improved 2% to $70.4 million, supported by double-digit growth at United American despite softer performance at Liberty National and American Income.
Globe Life Strengthens Capital PositionBook value per share increased 18% year over year to $78.18. Excluding accumulated other comprehensive income (AOCI), book value per share rose 11% to $100.04. Net income return on equity was 18.4% for the first six months of 2026, down 40 basis points year over year. Net operating income return on equity, excluding AOCI, was 14.3%, down 10 basis points year over year. During the reported quarter, Globe Life repurchased 1.1 million shares for $175 million at an average price of $154.28 per share, continuing its shareholder return strategy.
GL Raises 2026 Earnings OutlookGlobe Life raised its full-year 2026 net operating income guidance to a range of $15.55-$15.95 per share, suggesting a 10-cent increase at the midpoint from its prior outlook.
How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.
VGM ScoresCurrently, Globe Life has a poor Growth Score of F, however its Momentum Score is doing a lot better with a B. Following the exact same course, the stock has a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Globe Life has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Aurora Investment Counsel ve 2. čtvrtletí nově koupila 12 763 akcií společnosti Globe Life za zhruba 2,28 milionu USD. Podíl tvoří 1,2 % portfolia a jde o 29. největší pozici.
Aurora Investment Counsel purchased a new position in shares of Globe Life Inc. (NYSE:GL – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,763 shares of the company’s stock, valued at approximately $2,280,000. Globe Life accounts for 1.2% of Aurora Investment Counsel’s investment portfolio, making the stock its 29th biggest position.
A number of other hedge funds also recently bought and sold shares of the stock. Compound Planning Inc. grew its holdings in Globe Life by 4.3% during the 4th quarter. Compound Planning Inc. now owns 1,968 shares of the company’s stock worth $275,000 after acquiring an additional 82 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of Globe Life by 23.3% in the 1st quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 83 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Globe Life by 5.6% during the 4th quarter. Parallel Advisors LLC now owns 1,651 shares of the company’s stock worth $231,000 after purchasing an additional 87 shares during the last quarter. First United Bank & Trust lifted its position in shares of Globe Life by 2.1% during the 1st quarter. First United Bank & Trust now owns 4,355 shares of the company’s stock worth $606,000 after purchasing an additional 90 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Globe Life by 4.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,366 shares of the company’s stock worth $329,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.
Globe Life Stock Performance Shares of GL opened at $171.74 on Thursday. The company’s 50 day simple moving average is $178.16 and its 200-day simple moving average is $158.21. The firm has a market cap of $13.20 billion, a PE ratio of 11.40 and a beta of 0.48. Globe Life Inc. has a 12-month low of $127.85 and a 12-month high of $191.55. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43.
Globe Life (NYSE:GL – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $3.67 by ($0.06). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the company earned $3.05 EPS. The firm’s revenue for the quarter 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. As a group, equities analysts predict that Globe Life Inc. will post 15.71 EPS for the current year. Globe Life Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is currently 8.76%.
Globe Life declared that its Board of Directors has initiated a stock repurchase plan on Monday, August 10th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Analyst Ratings Changes Several equities analysts recently commented on the company. Piper Sandler increased their target price on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Wells Fargo & Company lifted their price target on Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lowered their price objective on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Truist Financial upped their price objective on Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Jefferies Financial Group increased their price objective on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.67.
Check Out Our Latest Stock Analysis on GL
Insider Transactions at Globe Life In other news, CEO James Matthew Darden sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $182.43, for a total value of $9,121,500.00. Following the transaction, the chief executive officer owned 58,451 shares of the company’s stock, valued at approximately $10,663,215.93. The trade was a 46.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $156.68, for a total value of $3,133,600.00. Following the completion of the transaction, the chief executive officer directly owned 54,020 shares in the company, valued at approximately $8,463,853.60. The trade was a 27.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 179,844 shares of company stock worth $31,616,279 over the last three months. 2.11% of the stock is currently owned by company insiders.
Globe Life Company Profile (Free Report)
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.
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, /PRNewswire/ -- Globe Life Inc. (NYSE:GL) announced a new authorization, effective August 15, 2026, to repurchase up to $2.5 billion of common stock in the future under the Company's existing share repurchase program. This authorization was approved by Globe Life's Board of Directors during its regular quarterly board meeting on August 5, 2026, and replaces any previous authorizations.
"This authorization reflects the Board's enduring confidence in Globe Life's ability to create long-term value. Our insurance operations have consistently generated reliable free cash flow for the parent company across varying economic environments. Since launching our repurchase program in 1986, we have returned nearly $11.5 billion to shareholders through buybacks," said Matt Darden, Co-Chairman and Chief Executive Officer.
Frank Svoboda, Co-Chairman and Chief Executive Officer, noted, "Our capital allocation strategy remains disciplined and consistent. We prioritize the full funding of our insurance operations' growth before deploying excess capital. In the absence of more accretive investment opportunities, and subject to prevailing market conditions, we expect to continue returning capital to shareholders through share repurchases, in keeping with our commitment to maximizing long-term shareholder value."
Globe Life Inc. is a holding company specializing in life and supplemental health insurance for the middle-income market distributed through multiple channels, including direct to consumer and exclusive and independent agencies.
Bank of Nova Scotia v 1. čtvrtletí zvýšila podíl ve společnosti Globe Life o 19,2 % na 74 287 akcií. Firma zároveň vykázala zisk na akcii 3,61 USD, což bylo pod odhadem 3,67 USD.
Bank of Nova Scotia boosted its holdings in Globe Life Inc. (NYSE:GL – Free Report) by 19.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 74,287 shares of the company’s stock after buying an additional 11,970 shares during the period. Bank of Nova Scotia owned approximately 0.10% of Globe Life worth $10,339,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CYBER HORNET ETFs LLC purchased a new position in Globe Life in the second quarter valued at about $28,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Globe Life in the fourth quarter worth about $30,000. MUFG Securities EMEA plc purchased a new stake in shares of Globe Life in the second quarter worth about $31,000. Torren Management LLC acquired a new stake in shares of Globe Life in the fourth quarter valued at about $37,000. Finally, AdvisorNet Financial Inc grew its stake in shares of Globe Life by 41.1% in the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock valued at $44,000 after buying an additional 92 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.
Globe Life Price Performance Shares of NYSE GL opened at $173.64 on Monday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 11.53 and a beta of 0.47. Globe Life Inc. has a twelve month low of $127.85 and a twelve month high of $191.55. The business has a 50 day simple moving average of $169.07 and a 200-day simple moving average of $152.99.
Globe Life (NYSE:GL – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). Globe Life had a return on equity of 20.73% and a net margin of 19.58%.The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the firm earned $3.05 EPS. The business’s revenue for the quarter 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. As a group, equities research analysts expect that Globe Life Inc. will post 15.7 earnings per share for the current year.
Globe Life Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $0.33 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.32 annualized dividend and a yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is currently 8.76%.
Key Stories Impacting Globe Life Here are the key news stories impacting Globe Life this week:
Positive Sentiment: Keefe, Bruyette & Woods trimmed its price target only modestly to $190 from $192 and kept an outperform rating, implying roughly 9% upside from recent levels. Benzinga article Positive Sentiment: TD Cowen also reiterated a bullish view, forecasting strong price appreciation for Globe Life (GL). American Banking News article Positive Sentiment: Management raised its 2026 net operating EPS guidance to $15.55-$15.95 and lifted share repurchases to $670 million-$700 million, signaling confidence in future earnings and capital returns. Seeking Alpha article Neutral Sentiment: Globe Life’s Q2 revenue came in roughly in line with expectations, and underwriting income remained strong, showing the core business is still performing acceptably despite some headwinds. Reuters article Negative Sentiment: Q2 earnings of $3.61 per share missed the consensus estimate of $3.67, and several reports pointed to softer sales and rising expenses as reasons for investor concern. MSN article Wall Street Analyst Weigh In GL has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price target on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday. Weiss Ratings downgraded shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Morgan Stanley lifted their price objective on shares of Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Truist Financial boosted their target price 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.40.
View Our Latest Stock Report on GL
Insiders Place Their Bets In other news, CEO James Matthew Darden sold 4,663 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $153.88, for a total transaction of $717,542.44. Following the transaction, the chief executive officer directly owned 58,451 shares of the company’s stock, valued at approximately $8,994,439.88. This trade represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $156.68, for a total value of $3,133,600.00. Following the transaction, the chief executive officer directly owned 54,020 shares of the company’s stock, valued at $8,463,853.60. This represents a 27.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 90,187 shares of company stock worth $14,299,874. 2.11% of the stock is owned by company insiders.
Globe Life Profile (Free Report)
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.
Read More Five stocks we like better than Globe Life RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade? These 4 Earnings Reports Expose the Market’s Growing Economic Divide Broadcom May Be the Biggest Winner From Alphabet’s Earnings Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL – Free Report).
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Arrowstreet Capital Limited Partnership reduced its stake in shares of Globe Life Inc. (NYSE:GL – Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,402,976 shares of the company’s stock after selling 32,271 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.81% of Globe Life worth $195,252,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compound Planning Inc. raised its holdings in Globe Life by 4.3% in the fourth quarter. Compound Planning Inc. now owns 1,968 shares of the company’s stock worth $275,000 after buying an additional 82 shares during the last quarter. Root Financial Partners LLC boosted its position in shares of Globe Life by 23.3% during the first quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 83 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of Globe Life by 3.9% in the 4th quarter. Transcend Capital Advisors LLC now owns 2,265 shares of the company’s stock worth $317,000 after buying an additional 84 shares during the last quarter. Natural Investments LLC grew its holdings in shares of Globe Life by 2.6% in the fourth quarter. Natural Investments LLC now owns 3,452 shares of the company’s stock worth $482,000 after acquiring an additional 87 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Globe Life by 5.6% in the fourth quarter. Parallel Advisors LLC now owns 1,651 shares of the company’s stock worth $231,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.
Globe Life News Summary Here are the key news stories impacting Globe Life this week:
Positive Sentiment: Keefe, Bruyette & Woods trimmed its price target only modestly to $190 from $192 and kept an outperform rating, implying roughly 9% upside from recent levels. Benzinga article Positive Sentiment: TD Cowen also reiterated a bullish view, forecasting strong price appreciation for Globe Life (GL). American Banking News article Positive Sentiment: Management raised its 2026 net operating EPS guidance to $15.55-$15.95 and lifted share repurchases to $670 million-$700 million, signaling confidence in future earnings and capital returns. Seeking Alpha article Neutral Sentiment: Globe Life’s Q2 revenue came in roughly in line with expectations, and underwriting income remained strong, showing the core business is still performing acceptably despite some headwinds. Reuters article Negative Sentiment: Q2 earnings of $3.61 per share missed the consensus estimate of $3.67, and several reports pointed to softer sales and rising expenses as reasons for investor concern. MSN article Insider Activity In other news, CFO Thomas Peter Kalmbach sold 7,936 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $156.59, for a total value of $1,242,698.24. Following the transaction, the chief financial officer owned 50,496 shares of the company’s stock, valued at $7,907,168.64. This represents a 13.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 10,000 shares of the 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 transaction, the chief executive officer owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. This represents a 15.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 90,187 shares of company stock worth $14,299,874 in the last 90 days. 2.11% of the stock is owned by corporate insiders.
Globe Life Stock Performance NYSE:GL opened at $173.64 on Friday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $169.07 and its 200-day moving average price is $152.91. The company has a market cap of $13.48 billion, a P/E ratio of 11.53 and a beta of 0.47. Globe Life Inc. has a twelve month low of $127.85 and a twelve month high of $191.55.
Globe Life (NYSE:GL – Get Free Report) last issued its 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 return on equity of 20.73% and a net margin of 19.58%.The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business earned $3.05 earnings per share. 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, sell-side analysts forecast that Globe Life Inc. will post 15.67 earnings per share for the current fiscal year.
Globe Life Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, July 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is currently 9.13%.
Analysts Set New Price Targets A number of analysts have commented on GL shares. Morgan Stanley upped their price target on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods decreased their target price on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday. Jefferies Financial Group increased their price target on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Wells Fargo & Company raised their target price on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $187.40.
Check Out Our Latest Research Report on GL
Globe Life Company Profile (Free Report)
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.
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Globe Life Inc. uspořádala konferenční hovor k hospodářským výsledkům za 2. čtvrtletí 2026. Na hovoru vedení představilo čtvrtletní výsledky a odpovídalo analytikům.
Globe Life Inc. (GL) Q2 2026 Earnings Call July 23, 2026 11:00 AM EDT
Company Participants
Stephen Mota - Senior Director of Investor Relations
Frank Svoboda - Co-Chairman & Co-CEO
James Darden - Co-Chairman & Co-CEO
Thomas Kalmbach - Executive VP & CFO
Conference Call Participants
Wilma Jackson Burdis - Raymond James & Associates, Inc., Research Division
Ryan Krueger - Keefe, Bruyette, & Woods, Inc., Research Division
Wesley Carmichael - Wells Fargo Securities, LLC, Research Division
Joel Hurwitz - Dowling & Partners Securities, LLC
Randy Binner
Pablo Singzon - JPMorgan Chase & Co, Research Division
Suneet Kamath - Jefferies LLC, Research Division
Thomas Gallagher - Evercore ISI Institutional Equities, Research Division
Maxwell Fritscher - Truist Securities, Inc., Research Division
Andrew Kligerman - TD Cowen, Research Division
Presentation
Operator
Hello, and welcome to Globe Life Inc. Second Quarter Earnings Release Conference Call. My name is Jim, and I will be your coordinator for today's event. Please note today's conference is being recorded. And during our presentation [Operator Instructions]
It is now my pleasure to hand over to your host, Stephen Mota, Vice President of Investor Relations, to begin today's conference. Thank you.
Stephen Mota
Senior Director of Investor Relations
Thank you. Good morning, everyone. Joining the call today are Frank Svoboda, and Matt Darden, our Co-Chief Executive Officer; Tom Kalmbach, our Chief Financial Officer; Mike Majors, our Chief Strategy Officer; and Brian Mitchell, our General Counsel. Some of our comments or answers to your questions may contain forward-looking statements that are provided for general guidance purposes only.
Accordingly, please refer to our earnings release, 2025 10-K, and the subsequent Forms 10-Q on file with the SEC. Some of our comments may also contain non-GAAP measures. Please see our earnings release and website for discussion of these terms and reconciliations to GAAP measures.
Globe Life (GL - Free Report) came out with quarterly earnings of $3.61 per share, missing the Zacks Consensus Estimate of $3.67 per share. This compares to earnings of $3.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -1.64%. A quarter ago, it was expected that this life and health insurance company would post earnings of $3.46 per share when it actually produced earnings of $3.43, delivering a surprise of -0.87%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Globe Life, which belongs to the Zacks Insurance - Accident and Health industry, posted revenues of $1.59 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.22%. This compares to year-ago revenues of $1.5 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Globe Life shares have added about 31.8% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for Globe Life?While Globe Life has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Globe Life was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.71 on $1.61 billion in revenues for the coming quarter and $15.64 on $6.4 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Accident and Health is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Trupanion (TRUP - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.
This provider of medical insurance covering cats and dogs is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Trupanion's revenues are expected to be $389.65 million, up 10.2% from the year-ago quarter.
, /PRNewswire/ -- Globe Life Inc. (NYSE: GL) reported today that for the quarter ended June 30, 2026, net income was $3.65 per diluted common share, compared with $3.05 per diluted common share for the year-ago quarter. Net operating income was $3.61 per diluted common share, compared with $3.27 per diluted common share for the year-ago quarter. The Company also increased full-year 2026 earnings guidance to a range of $15.55 to $15.95, an increase of $0.10 at the midpoint.
HIGHLIGHTS:
Net income per share increased 20% and net operating income per share increased 10% over the year-ago quarter. Globe Life has produced double-digit growth in net operating income per share in eight of the last nine quarters. Net income as an ROE was 18.4% for the six months ended June 30, 2026. Book value per share was $78.18, an increase of 18% over the year-ago quarter. Net operating income as an ROE excluding accumulated other comprehensive income (AOCI) was 14.3% for the six months ended June 30, 2026. Book value per share excluding AOCI was $100.04, an increase of 11% over the year-ago quarter. Total premium revenue grew 7% over the year-ago quarter. At the American Income Life Division, life premium increased 5% and life underwriting margin increased 4% over the year-ago quarter. At the Liberty National Division, life underwriting margin increased 10% and life net sales increased 6% over the year-ago quarter. Additionally, the average producing agent count increased 8% over the year-ago quarter. At the Family Heritage Division, health underwriting margin increased 10%, health premium increased 9%, and health net sales increased 4% over the year-ago quarter. Additionally, the average producing agent count increased 7% over the year-ago quarter. At the Direct to Consumer Division, life underwriting margin increased 10% over the year-ago quarter. At the United American Division, health premium increased 29% and health net sales increased 10% over the year-ago quarter. 1.1 million shares of Globe Life Inc. common stock were repurchased during the quarter at a total cost of $175 million. Note: As used in the earnings release, "Globe Life," the "Company," "we," "our," and "us" refer to Globe Life Inc., a Delaware corporation incorporated in 1979, its subsidiaries and affiliates.
GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
RESULTS OF OPERATIONS
Net operating income, a non-GAAP(1) financial measure, has been used consistently by Globe Life's management for many years to evaluate the operating performance of the Company, and is a measure commonly used in the life insurance industry. It differs from net income primarily because it excludes certain non-operating items such as realized investment gains and losses and certain significant and unusual items included in net income. Management believes an analysis of net operating income is important in understanding the profitability and operating trends of the Company's business. Net income is the most directly comparable GAAP measure.
The following table represents Globe Life's operating summary for the three months ended June 30, 2026 and 2025:
Operating Summary
Per Share
Three Months Ended
June 30,
Three Months Ended
June 30,
2026
2025
%
Chg.
2026
2025
%
Chg.
Insurance underwriting income(2)
$ 4.69
$ 4.28
10
$ 370,289
$ 354,176
5
Excess investment income(2)
0.49
0.42
17
38,315
34,828
10
Interest on debt
(0.46)
(0.42)
10
(36,050)
(34,885)
3
Parent company expense
(0.06)
(0.04)
(4,569)
(3,555)
Income tax expense
(0.89)
(0.82)
9
(70,202)
(68,062)
3
Stock compensation benefit (expense), net of tax
(0.17)
(0.14)
(13,098)
(11,407)
Net operating income
3.61
3.27
10
284,685
271,095
5
Reconciling items, net of tax:
Realized gain (loss)
0.07
(0.18)
5,639
(14,674)
Legal proceedings
(0.03)
(0.04)
(2,577)
(3,672)
Net income(3)
$ 3.65
$ 3.05
$ 287,747
$ 252,749
Weighted average diluted shares outstanding
78,909
82,793
(1)
GAAP is defined as accounting principles generally accepted in the United States of America.
(2)
Definitions included within this document.
(3)
A GAAP-basis condensed consolidated statement of operations is included in the appendix of this report.
Note: Tables in this earnings release may not sum due to rounding.
GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
MANAGEMENT VS. GAAP MEASURES
Shareholders' equity, excluding AOCI, and book value per share, excluding AOCI, are non-GAAP measures that are utilized by management to view the business without the effect of changes in AOCI, which are primarily attributable to fluctuation in interest rates. Management views the business in this manner because it creates more meaningful and easily identifiable trends, as we exclude fluctuations resulting from changes in interest rates. Shareholders' equity and book value per share are the most directly comparable GAAP measures.
Six Months Ended
June 30,
2026
2025
Net income
$ 558,273
$ 507,312
Net operating income
558,205
530,432
Net income as an ROE(1)
18.4 %
18.8 %
Net operating income as an ROE (excluding AOCI)(1)
14.3 %
14.4 %
June 30,
2026
2025
Shareholders' equity
$ 6,155,815
$ 5,419,030
Impact of adjustment to exclude AOCI
1,721,729
1,983,868
Shareholders' equity, excluding AOCI
$ 7,877,544
$ 7,402,898
Book value per share
$ 78.18
$ 66.07
Impact of adjustment to exclude AOCI
21.86
24.19
Book value per share, excluding AOCI
$ 100.04
$ 90.26
(1)
Calculated using average shareholders' equity for the measurement period.
GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
INSURANCE OPERATIONS:
Life insurance accounted for 78% of the Company's insurance underwriting margin for the quarter and 66% of total premium revenue.
Health insurance accounted for 22% of the Company's insurance underwriting margin for the quarter and 34% of total premium revenue.
The following table summarizes Globe Life's premium revenue by product type for the three months ended June 30, 2026 and 2025:
Insurance Premium Revenue
Quarter Ended
June 30, 2026
June 30, 2025
%
Chg.
Life insurance
$ 860,767
$ 839,544
3
Health insurance
436,855
378,099
16
Total
$ 1,297,622
$ 1,217,643
7
INSURANCE UNDERWRITING INCOME
Insurance underwriting margin is management's measure of profitability of the Company's life and health segments' underwriting performance, and consists of premiums less policy obligations (excluding interest on policy liabilities), commissions and other acquisition expenses. Insurance underwriting income is the sum of the insurance underwriting margins of the life and health segments, plus annuity and other income, less administrative expenses. It excludes the investment segment, interest on debt, Parent Company expense, stock compensation expense and income taxes. Management believes this information helps provide a better understanding of the business and a more meaningful analysis of underwriting results by distribution channel. Insurance underwriting income, a non-GAAP measure, is a component of net operating income, which is reconciled to net income in the Results of Operations section above.
The following table summarizes Globe Life's insurance underwriting income by segment for the three months ended June 30, 2026 and 2025:
Insurance Underwriting Income
Quarter Ended
June 30, 2026
% of
Premium
June 30, 2025
% of
Premium
%
Chg.
Insurance underwriting margins:
Life
$ 359,350
42
$ 340,074
41
6
Health
99,285
23
98,057
26
1
458,635
438,131
5
Annuity and other income
3,100
2,092
Administrative expenses
(91,446)
(86,047)
Insurance underwriting income
$ 370,289
$ 354,176
5
Per share
$ 4.69
$ 4.28
10
The ratio of administrative expenses to premium was 7.0%, compared with 7.1% for the year-ago quarter.
GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
LIFE INSURANCE RESULTS BY DISTRIBUTION CHANNEL
Our distribution channels consist of the following exclusive divisions: American Income Life Division (American Income), Liberty National Division (Liberty National), Family Heritage Division (Family Heritage), Direct to Consumer Division (Direct to Consumer); and an independent agency, United American Division (United American).
Total premium, underwriting margins, first-year collected premium and net sales by all distribution channels are shown at https://investors.globelifeinsurance.com at "Financial Reports and Other Financial Information."
Life Underwriting Margin
Quarter Ended
June 30,
2026
2025
Amount
% of Premium
Amount
% of Premium
% Chg.
American Income
$ 213,604
46
$ 204,533
46
4
Direct to Consumer
75,876
31
68,959
28
10
Liberty National
36,652
36
33,446
34
10
Other
33,218
67
33,136
66
—
Total
$ 359,350
42
$ 340,074
41
6
Life Premium
Quarter Ended
June 30,
2026
2025
%
Chg.
American Income
$ 466,334
$ 445,511
5
Direct to Consumer
244,220
246,223
(1)
Liberty National
100,516
97,263
3
Other
49,697
50,547
(2)
Total
$ 860,767
$ 839,544
3
Life Net Sales(1)
Quarter Ended
June 30,
2026
2025
%
Chg.
American Income
$ 94,733
$ 96,227
(2)
Direct to Consumer
26,578
31,096
(15)
Liberty National
26,131
24,615
6
Other
2,165
2,947
Total
$ 149,607
$ 154,885
(3)
(1)
Net sales is calculated as annualized premium issued, net of cancellations in the first thirty days after issue, except in the case of Direct to Consumer, where net sales is annualized premium issued at the time the first full premium is paid after any introductory offer period (typically 1 month) has expired. Management considers net sales to be a better indicator of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.
GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
HEALTH INSURANCE RESULTS BY DISTRIBUTION CHANNEL
Health Underwriting Margin
Quarter Ended
June 30,
2026
2025
Amount
% of Premium
Amount
% of Premium
% Chg.
United American
$ 10,914
5
$ 12,402
8
(12)
Family Heritage
45,087
36
40,927
35
10
Liberty National
23,145
49
24,372
51
(5)
American Income
18,221
59
19,325
62
(6)
Direct to Consumer
1,918
9
1,031
5
Total
$ 99,285
23
$ 98,057
26
1
Health Premium
Quarter Ended
June 30,
2026
2025
%
Chg.
United American
$ 211,416
$ 163,978
29
Family Heritage
126,273
115,856
9
Liberty National
47,403
47,631
—
American Income
30,805
31,422
(2)
Direct to Consumer
20,958
19,212
9
Total
$ 436,855
$ 378,099
16
Health Net Sales(1)
Quarter Ended
June 30,
2026
2025
%
Chg.
United American
$ 27,894
$ 25,454
10
Family Heritage
30,725
29,561
4
Liberty National
6,991
8,182
(15)
American Income
4,093
4,749
(14)
Direct to Consumer
696
786
(11)
Total
$ 70,399
$ 68,732
2
(1)
Net sales is calculated as annualized premium issued, net of cancellations in the first thirty days after issue, except in the case of Direct to Consumer, where net sales is annualized premium issued at the time the first full premium is paid after any introductory offer period (typically 1 month) has expired. Management considers net sales to be a better indicator of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.
GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
PRODUCING EXCLUSIVE AGENT COUNT RESULTS BY DISTRIBUTION CHANNEL
Quarterly Average
Producing Agent Count(1)
Quarter Ended
Quarter Ended
June 30,
March 31,
2026
2025
% Chg.
2026
American Income
11,391
12,241
(7)
11,064
Liberty National
4,194
3,882
8
4,031
Family Heritage
1,608
1,498
7
1,561
(1)
The quarterly average producing agent count is based on the actual count at the beginning and end of each week during the period.
INVESTMENTS
Management uses excess investment income as the measure to evaluate the performance of the investment segment. It is defined as net investment income less the required interest attributable to policy liabilities. We also view excess investment income per diluted common share as an important and useful measure to evaluate performance of the investment segment, since it takes into consideration our stock repurchase program.
The following table summarizes Globe Life's investment income, excess investment income, and excess investment income per diluted common share.
Excess Investment Income
Quarter Ended
June 30,
2026
2025
%
Chg.
Net investment income
$ 293,820
$ 282,169
4
Required interest on policy liabilities(1)
(255,505)
(247,341)
3
Excess investment income
$ 38,315
$ 34,828
10
Per share
$ 0.49
$ 0.42
17
(1)
Interest on policy liabilities, at original discount rates, is a component of total policyholder benefits, a GAAP measure.
Net investment income increased 4% and average invested assets increased 2%. Required interest on policy liabilities increased 3% and average policy liabilities increased 4%.
GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
The composition of the investment portfolio at book value at June 30, 2026 is as follows:
Investment Portfolio
As of
June 30, 2026
Amount
% of Total
Fixed maturities at fair value(1)
$ 17,940,189
86
Mortgage loans
425,513
2
Policy loans
758,676
4
Other long-term investments(2)
1,466,858
7
Short-term investments
198,327
1
Total
$ 20,789,563
(1)
As of June 30, 2026, fixed maturities at amortized cost were $19.3 billion, net of $3.3 million of allowance for credit losses.
(2)
Includes $1.10 billion of investments accounted for under the fair value option which have a cost of $1.08 billion as of June 30, 2026.
Fixed maturities at amortized cost, net of allowance for credit losses, by asset class as of June 30, 2026 are as follows:
Fixed Maturity Portfolio by Sector
As of
June 30, 2026
Investment
Grade
Below
Investment
Grade
Total
Amortized
Cost, net
Corporate bonds
$ 14,797,965
$ 470,927
$ 15,268,892
Municipals
3,423,079
1,959
3,425,038
Government, agencies, and GSEs(1)
464,427
—
464,427
Other asset-backed securities
102,711
42,930
145,641
Total
$ 18,788,182
$ 515,816
$ 19,303,998
(1)
Government-Sponsored Enterprises
Below are fixed maturities available for sale by amortized cost, allowance for credit losses, and fair value at June 30, 2026 and the corresponding amounts of net unrealized gains and losses recognized in accumulated other comprehensive income (loss).
As of
Amortized
Cost
Allowance for
Credit Losses
Net Unrealized
Gains (Losses)
Fair
Value
June 30, 2026
$ 19,307,295
$ (3,297)
$ (1,363,809)
$ 17,940,189
At amortized cost, net of allowance for credit losses, and at fair value, 97% of fixed maturities were rated "investment grade." The fixed maturity portfolio earned an annual taxable equivalent effective yield of 5.30% during the second quarter of 2026, compared with 5.29% in the year-ago quarter.
Globe Life is not a party to any credit default swaps and does not participate in securities lending.
GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
Comparable information for acquisitions of fixed maturity and other investments is as follows:
Fixed Maturity Acquisitions
Quarter Ended
June 30,
2026
2025
Amount
$ 399,143
$ 263,252
Average annual effective yield
6.3 %
6.4 %
Average rating
A
A
Average life (in years) to:
Next call
32.0
31.2
Maturity
36.1
33.8
Other Investment Acquisitions
Quarter Ended
June 30,
2026
2025
Limited partnerships
$ 63,728
$ 36,985
Mortgage loans
25,179
31,215
Common stock
2,340
1,342
Company owned life insurance
—
—
Total
$ 91,247
$ 69,542
SHARE REPURCHASES:
During the quarter, the Company repurchased 1.1 million shares of Globe Life Inc. common stock at a total cost of $175 million and an average share price of $154.28.
LIQUIDITY/CAPITAL:
Globe Life's operations consist primarily of writing basic protection life and supplemental health insurance policies which generate strong and stable cash flows. These cash flows are not impacted by volatile equity markets. Liquidity at the Parent Company is sufficient to meet additional capital needs of the insurance companies.
NON-GAAP MEASURES:
In this news release, Globe Life includes non-GAAP measures to enhance investors' understanding of management's view of the business. The non-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. Globe Life's definitions of non-GAAP measures may differ from other companies' definitions. More detailed financial information, including various GAAP and non-GAAP measurements, is located at https://investors.globelifeinsurance.com on the Investors page under "Financial Reports and Other Financial Information."
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements within the meaning of the federal securities laws. These prospective statements reflect management's current expectations, but are not guarantees of future performance. Whether or not actual results differ materially from forward-looking statements may depend on numerous foreseeable and unforeseeable events or developments, which may be national in scope, related to the insurance industry generally, or applicable to the Company specifically. Such events or developments could include, but are not necessarily limited to:
1) Economic and other conditions, including the impact of inflation, immigration, geopolitical events, escalating tariff and non-tariff trade measures imposed by the U.S. and other countries, and other governmental actions on the U.S. economy and/or U.S. consumer confidence, leading to unexpected changes in lapse rates and/or sales of our policies, as well as levels of mortality, morbidity, and utilization of health care services that differ from Globe Life's assumptions;
2) Regulatory developments, including changes in accounting standards or governmental regulations (particularly those impacting taxes and changes to the Federal Medicare program that would affect Medicare Supplement);
3) Market trends in the senior-aged health care industry that provide alternatives to traditional Medicare (such as Health Maintenance Organizations and other managed care or private plans) and that could affect the sales of traditional Medicare Supplement insurance;
4) Ratings changes with respect to our financial strength and credit ratings and potential adverse impacts to liquidity;
6) General economic, industry sector or individual debt issuers' financial conditions (including developments and volatility arising from geopolitical events, particularly in certain industries that may compromise part of our investment portfolio) that may affect the current market value of securities we own, or that may impair an issuer's ability to make principal and/or interest payments due on those securities;
7) Changes in the competitiveness of the Company's products and pricing;
8) Litigation results and regulatory actions;
9) Levels of administrative and operational efficiencies that differ from our assumptions (including any reduction in efficiencies resulting from increased costs arising from the impact of higher than anticipated inflation);
10) The ability to obtain timely and appropriate premium rate increases for health insurance policies from our regulators;
11) The ability of our subsidiaries to pay dividends to the Parent Company and to receive required regulatory approvals on such amounts;
12) The customer response to new products and marketing initiatives;
13) Reported amounts in the consolidated financial statements which are based on management estimates and judgments which may differ from the actual amounts ultimately realized;
14) Compromise by a malicious actor or other event that causes a loss of secure data from, or inaccessibility to, our computer and other information technology systems;
15) The Company's ability to attract and retain agents;
16) The severity, magnitude, and impact of natural or man-made catastrophic events, including but not limited to pandemics, tornadoes, hurricanes, earthquakes, war and terrorism, on our operations and personnel, commercial activity and demand for our products; and
17) Globe Life's ability to access the commercial paper and debt markets, particularly if such markets become unpredictable or unstable for a certain period.
Readers are also directed to consider other risks and uncertainties described in other documents on file with the Securities and Exchange Commission, including those described in the "Risk Factors" section of our most recent Annual Report on Form 10-K. Globe Life specifically disclaims any obligation to update or revise any forward-looking statement because of new information, future developments or otherwise.
EARNINGS RELEASE CONFERENCE CALL WEBCAST:
Globe Life will provide a live audio webcast of its second quarter 2026 earnings release conference call with financial analysts at 11:00 am (Eastern) tomorrow, July 23, 2026. Access to the live webcast and replay will be available at https://investors.globelifeinsurance.com on the Calls and Meetings page, at the Conference Calls on the Web icon. Immediately following this press release, supplemental financial reports will be available before the conference call on the Investors page menu of the Globe Life website at "Financial Reports."
APPENDIX
GLOBE LIFE INC.
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Revenue:
Life premium
$ 860,767
$ 839,544
$ 1,713,972
$ 1,669,407
Health premium
436,855
378,099
853,763
747,890
Total premium
1,297,622
1,217,643
2,567,735
2,417,297
Net investment income
293,820
282,169
583,644
562,783
Realized gains (losses)
7,138
(18,574)
5,660
(18,489)
Other income
1,150
49
2,310
118
Total revenue
1,599,730
1,481,287
3,159,349
2,961,709
Benefits and expenses:
Life policyholder benefits(1)
513,959
519,355
1,032,809
1,029,111
Health policyholder benefits(2)
277,012
229,924
540,746
463,853
Other policyholder benefits
7,280
6,719
14,280
13,799
Total policyholder benefits
798,251
755,998
1,587,835
1,506,763
Amortization of deferred acquisition costs
120,537
111,401
238,819
216,916
Commissions, premium taxes, and non-deferred acquisition costs
173,754
157,411
343,640
321,734
Other operating expense
116,251
108,293
229,986
217,039
Interest expense
36,050
34,885
70,050
69,877
Total benefits and expenses
1,244,843
1,167,988
2,470,330
2,332,329
Income before income taxes
354,887
313,299
689,019
629,380
Income tax benefit (expense)
(67,140)
(60,550)
(130,746)
(122,068)
Net income
$ 287,747
$ 252,749
$ 558,273
$ 507,312
Basic net income per common share
$ 3.71
$ 3.09
$ 7.16
$ 6.13
Diluted net income per common share
$ 3.65
$ 3.05
$ 7.04
$ 6.07
(1)
Net of total remeasurement gain of $23.5 million before tax for the three months ended June 30, 2026 and a total remeasurement gain of $16.7 million before tax for the same period in 2025. Net of total remeasurement gain of $42.4 million for the six months ended June 30, 2026, and a total remeasurement gain of $25.3 million for the same period in 2025.
(2)
Net of total remeasurement gain of $1.3 million before tax for the three months ended June 30, 2026 and a total remeasurement gain of $3.9 million before tax for the same period in 2025. Net of a total remeasurement gain of $7.3 million for the six months ended June 30, 2026, and a total remeasurement gain of $4.3 million for the same period in 2025.
Globe Life v 1. čtvrtletí zvýšila upravený EPS o 12 % díky růstu pojistného a disciplíně v upisování. Tržby z prodejů zdravotního pojištění vyskočily o 58 % a prodeje životního pojištění vzrostly o 6 %.
Key Takeaways Globe Life posted 12% operating EPS growth, supported by premium growth and disciplined underwriting. Sales momentum accelerated with health sales up 58% and life sales rising across all distribution channels. GL returned $225 million to shareholders and expects excess cash flow of $650-$700 million in 2026. Shares of Globe Life Inc. (GL - Free Report) have gained 48.7% over the past year, outperforming the industry, sector and the Zacks S&P 500 composite over the same period. The stock closed at $177.07 on Wednesday, just 2.7% below its 52-week high of $182.32, reflecting investor confidence.
Strong earnings growth, premium expansion, higher investment income and aggressive share repurchases have driven the rally. Improving investor sentiment following the easing of short-seller allegations has further supported the stock.
Image Source: Zacks Investment Research
GL has outperformed its peers, Aflac Incorporated (AFL - Free Report) and Unum Group (UNM - Free Report) , whose shares have risen 19.2% and 10.7%, respectively, in the past year, while AMERISAFE, Inc. (AMSF - Free Report) has lost 18.7%.
GL’s ValuationDespite the rally, Globe Life shares are trading at a discount compared to the industry. Its forward price-to-earnings multiple of 10.96X is lower than the industry average of 13.66X, the Finance sector’s 16.51X and the Zacks S&P 500 Composite’s 21.14X. Also, it has a Value Score of A.
Image Source: Zacks Investment Research
Shares of other insurers, such as Unum Group, are also trading at a discount, while Aflac and Amerisafe are trading at a higher multiple than the industry average.
GL’s Growth Projection EncouragesThe Zacks Consensus Estimate for Globe Life’s 2026 earnings per share (EPS) indicates a year-over-year increase of 7.7%. The consensus estimate for revenues is pegged at $6.40 billion, implying a year-over-year improvement of 6.3%.
The consensus estimate for 2027 EPS and revenues indicates an increase of 6.4% and 6.7%, respectively, from the corresponding 2026 estimates.
The company’s earnings have improved 16.1% in the past five years, better than the industry average of 0.6%.
Optimistic Analyst Sentiment on GLThe company has witnessed four upward earnings estimate revisions for 2026 over the past 60 days, against no movement in the opposite direction. For 2027, it has witnessed three upward revisions and no downward movement. Thus, the Zacks Consensus Estimate for 2026 and 2027 earnings moved 1.4% and 0.1% north, respectively, over the last 60 days.
GL’s Return on Invested CapitalThe return on invested capital in the trailing 12 months was 12.5%, better than the industry average of 6.6%. This reflects the company’s efficiency in utilizing funds to generate income.
Key Points to Note for Globe LifeGlobe Life continues to deliver strong earnings growth, supported by disciplined underwriting, healthy premium growth and prudent capital management. In the first quarter of 2026, operating EPS increased 12% year over year, marking the seventh quarter of double-digit operating EPS growth in the past eight quarters. The company also benefited from higher premiums across its Life Insurance and Health Insurance segments, providing a solid foundation for sustained earnings expansion. In the first quarter, total premiums grew 6% year over year to $1.3 billion.
Moreover, net investment income continues to be another important driver of the company’s top-line growth and has been improving over the last few years, benefiting from higher portfolio yields and disciplined investment management. The company expects investment income to continue growing in 2026, supported by elevated reinvestment yields and its conservative, high-quality investment portfolio.
Improved agent productivity, expanding distribution and growth at the American Income, Liberty National, United American and Family Heritage divisions are expected to support continued sales growth in 2026. These efforts have fueled strong sales momentum, with health sales surging 58% in the first quarter of 2026 and life sales increasing 6% across all distribution channels.
Artificial intelligence (AI) is emerging as an important long-term growth driver for Globe Life. The company expects AI to improve underwriting, claims processing, customer service, agent productivity, lower administrative expenses and drive long-term margin expansion, strengthening Globe Life's competitive position.
The company has maintained a strong liquidity position with sufficient cash-generation capabilities. For 2026, GL anticipates excess cash flow to increase to approximately $650-$700 million. Globe Life has targeted a consolidated Company Action Level RBC ratio of 300-320% for 2026.
A strong capital position enables Globe Life to enhance its shareholder value via share buybacks and dividend payouts. The company returned approximately $225 million to shareholders during the first quarter of 2026. The insurer has continuously increased its dividend over the past five years, witnessing a CAGR of 8.9%.
ConclusionGlobe Life’s higher life and health sales, improved investment income, premium growth, AI initiatives, strong liquidity position and effective capital deployment position the company well for long-term growth.
Coupled with the impressive dividend history, cheaper valuation, solid growth projections, and higher returns, as well as the optimistic analyst sentiment, the time appears right for potential investors to bet on this Zacks Rank #2 (Buy) insurer. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
