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MCKINNEY, Texas - Globe Life Inc. (NYSE:GL), an $11.26 billion market cap insurance provider trading at an attractive P/E ratio of 10.95, announced Thursday it will dual list its common stock on NYSE Texas, the newly launched fully electronic equities exchange headquartered in Dallas. The company has demonstrated strong momentum, with shares up over 25% year-to-date.
The insurance provider will maintain its primary listing on the New York Stock Exchange while trading under the same "GL" ticker symbol on NYSE Texas.
"The decision to dual list on NYSE Texas strengthens our commitment to the communities that are a part of the great state of Texas which is home to Globe Life headquarters," said Globe Life Co-Chairman and CEO Frank Svoboda in a press release statement.
Chris Taylor, Chief Development Officer of NYSE Group, noted that Globe Life will join as a "Founding Member" of the new exchange.
Globe Life, headquartered in McKinney, Texas, employs more than 16,000 insurance agents and 3,600 corporate employees. According to the company, its subsidiary companies issue more life insurance policies and have more policyholders than any other life insurance company in the country, with more than 17 million policies in force, as reported by S&P Global Market Intelligence 2024.
The company’s insurance subsidiaries include American Income Life Insurance Company, Family Heritage Life Insurance Company of America, Globe Life And Accident Insurance Company, Liberty National Life Insurance Company, and United American Insurance Company.
NYSE Texas is a new fully electronic equities exchange based in Dallas.
In other recent news, Globe Life Inc. announced a quarterly dividend of $0.2700 per share, payable on October 31, 2025, to shareholders of record as of October 3, 2025. The company has seen significant developments with the conclusion of investigations by the Securities and Exchange Commission and the Department of Justice into its sales practices. Following this, Morgan Stanley upgraded Globe Life’s stock rating to Overweight, citing the closure of these investigations as a removal of significant uncertainty. Additionally, the U.S. Attorney’s Office for the Western District of Pennsylvania closed its investigation into Globe Life’s subsidiary, American Income Life, without any enforcement action. This has led to a positive outlook from analysts, with BMO Capital raising its price target to $149, reflecting confidence in the company’s free cash flow conversion. TD Cowen also reaffirmed its Buy rating with a price target of $182, following the Department of Justice’s decision. These recent developments have provided a clearer path forward for Globe Life, as regulatory concerns have been alleviated.
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