Globe Life hits record high after announcing closing of DOJ investigation

Globe Life

29/07/2025 18:16

** Insurer Globe Life's GL.N shares jump as much as 7.2%, hitting record high

** GL late on Monday announced the Department of Justice had closed its investigation into the firm and will not be taking any enforcement action

** Co had previously responded to DOJ subpoenas seeking documents relating to sales practices by certain independent sales agents

** News comes days after GL announced conclusion of a Securities and Exchange Commission investigation

** TD Cowen expects regulatory overhang to subside and GL stock to trade primarily on fundamentals again

** GL stock slipped 8.4% in 2024 as it became target of short-seller reports

** As of last close, GL stock up 20.3% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))