Jim Cramer’s Lightning Round: 9 Stocks in Spotlight

4. Globe Life Inc. (NYSE:GL)

Number of Hedge Fund Holders: 33

Cramer expressed lukewarm sentiment about Globe Life Inc. (NYSE:GL), saying:

“Well, it’s kind of an interesting Medicare supplement insurance company… nothing wrong. It sells at eight times earnings. I’m gonna tell you it’s fine, it’s not exciting, it’s not boring, it’s just fine.”

Globe Life (NYSE:GL) offers life and supplemental health insurance products, as well as annuities, to lower middle- and middle-income families in the United States through its various subsidiaries. On November 14, the company declared a quarterly dividend of $0.2400 per share.

This dividend will be distributed to all holders of outstanding common stock as of the close of business on January 6, 2025, with payment scheduled for January 31, 2025. As of November 22, the stock’s yield was 0.87%. Matt Darden, Co-Chief Executive Officer recently highlighted the company’s consistent history of share repurchases, with approximately $10 billion of common stock bought back since the launch of its share repurchase program in 1986.

On November 18, Globe Life (NYSE:GL) further announced an extension to its stock repurchase program, authorizing the buyback of up to $1.8 billion worth of common stock. This new authorization supersedes a previous approval of $1.3 billion that was made earlier in the year on April 29, 2024.