Los Angeles Capital Management LLC Buys Shares of 59,626 Globe Life Inc. (NYSE:GL)

Los Angeles Capital Management LLC purchased a new position in Globe Life Inc. (NYSE:GL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,626 shares of the company’s stock, valued at approximately $6,649,000. Los Angeles Capital Management LLC owned approximately 0.07% of Globe Life at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its stake in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after buying an additional 8,663 shares in the last quarter. Merit Financial Group LLC bought a new stake in Globe Life during the fourth quarter valued at $487,000. Wealth Enhancement Advisory Services LLC boosted its stake in Globe Life by 85.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after buying an additional 9,141 shares during the period. Finally, Pacer Advisors Inc. grew its position in Globe Life by 56.0% during the fourth quarter. Pacer Advisors Inc. now owns 10,199 shares of the company’s stock worth $1,137,000 after buying an additional 3,662 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance

Shares of NYSE:GL opened at $121.92 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.23 billion, a PE ratio of 10.20 and a beta of 0.81. The company’s fifty day moving average is $117.56 and its 200 day moving average is $109.88. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $129.18.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Morgan Stanley lifted their target price on shares of Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Wells Fargo & Company increased their price target on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upped their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $135.50.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,678 shares of company stock worth $8,799,822. 1.51% of the stock is currently owned by insiders.

Globe Life Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.