GAMMA Investing LLC Purchases 427 Shares of Globe Life Inc. (NYSE:GL)

GAMMA Investing LLC boosted its position in shares of Globe Life Inc. (NYSE:GL) by 13.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,513 shares of the company’s stock after buying an additional 427 shares during the quarter. GAMMA Investing LLC’s holdings in Globe Life were worth $289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after buying an additional 425,993 shares during the period. Cooke & Bieler LP grew its holdings in shares of Globe Life by 2.0% in the 4th quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after buying an additional 45,227 shares during the period. Boston Partners grew its holdings in shares of Globe Life by 6.4% in the 1st quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after buying an additional 125,457 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Globe Life by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock valued at $146,109,000 after buying an additional 29,560 shares during the period. Finally, Norges Bank acquired a new position in shares of Globe Life in the 4th quarter valued at $123,682,000. 81.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Wells Fargo & Company boosted their price objective on shares of Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley boosted their price objective on shares of Globe Life from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Raymond James reissued a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

Globe Life Stock Performance

Shares of GL stock traded down $2.28 on Monday, reaching $88.63. The stock had a trading volume of 966,237 shares, compared to its average volume of 1,904,209. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 8.47 and a beta of 0.80. The firm’s 50-day moving average is $84.51 and its two-hundred day moving average is $98.15. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $2.61 EPS. Globe Life’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts expect that Globe Life Inc. will post 11.92 EPS for the current fiscal year.

Insider Activity at Globe Life

In other Globe Life news, CEO James Matthew Darden bought 2,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the transaction, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Mary E. Thigpen purchased 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Matthew Darden purchased 2,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average cost of $84.82 per share, with a total value of $169,640.00. Following the acquisition, the chief executive officer now owns 37,973 shares in the company, valued at approximately $3,220,869.86. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 8,000 shares of company stock worth $687,880. Insiders own 1.51% of the company’s stock.

About Globe Life

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.