Asset Management One Co. Ltd. Buys 11,713 Shares of Globe Life Inc. (NYSE:GL)

Asset Management One Co. Ltd. increased its stake in Globe Life Inc. (NYSE:GL) by 662.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,480 shares of the company’s stock after buying an additional 11,713 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Globe Life were worth $1,476,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GL. State Street Corp increased its stake in Globe Life by 3.4% in the third 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 during the period. Principal Financial Group Inc. boosted its position in Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after purchasing 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 about $487,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Globe Life by 85.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after acquiring an additional 9,141 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Globe Life by 56.0% in the fourth quarter. Pacer Advisors Inc. now owns 10,199 shares of the company’s stock worth $1,137,000 after acquiring an additional 3,662 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Trading Up 0.2 %

Globe Life stock opened at $124.24 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81. The stock has a 50-day moving average price of $116.19 and a 200 day moving average price of $108.83.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Globe Life Inc. will post 13.86 EPS for the current year.

Wall Street Analysts Forecast Growth

GL has been the subject of several recent analyst reports. Morgan Stanley raised their price target on Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Wells Fargo & Company raised their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Truist Financial raised their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $135.50.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,678 shares of company stock worth $8,799,822. 1.51% of the stock is owned by corporate insiders.

Globe Life Company 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.