Globe Life Inc. (NYSE:GL) Short Interest Update

Globe Life Inc. (NYSE:GL) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 3,430,000 shares, an increase of 24.7% from the March 31st total of 2,750,000 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average trading volume of 2,390,000 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Piper Sandler lowered their price target on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Truist Financial dropped their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $130.00 to $110.00 in a research note on Wednesday, April 24th. Finally, StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

Insiders Place Their Bets

In other Globe Life news, Director David A. Rodriguez bought 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was acquired at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the purchase, the director now directly owns 4,192 shares in the company, valued at $334,186.24. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Rodriguez bought 1,500 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the purchase, the director now owns 4,192 shares in the company, valued at $334,186.24. The disclosure for this purchase can be found here. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

A number of hedge funds have recently modified their holdings of the company. Private Wealth Management Group LLC bought a new position in shares of Globe Life during the 4th quarter worth about $27,000. Private Trust Co. NA raised its position in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. BKM Wealth Management LLC bought a new position in Globe Life during the fourth quarter worth about $28,000. Lindbrook Capital LLC boosted its holdings in Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares during the period. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

NYSE:GL traded down $1.92 during mid-day trading on Tuesday, hitting $76.17. 5,119,704 shares of the company’s stock traded hands, compared to its average volume of 2,202,076. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $105.71 and a two-hundred day moving average of $115.07. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 7.28 and a beta of 0.69. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business posted $2.53 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Globe Life will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.26%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s payout ratio is currently 9.17%.

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.