Globe Life Inc. (NYSE:GL) Short Interest Down 21.9% in January

Globe Life Inc. (NYSE:GL) saw a large decrease in short interest in January. As of January 15th, there was short interest totalling 1,710,000 shares, a decrease of 21.9% from the December 31st total of 2,190,000 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average trading volume of 674,800 shares, the days-to-cover ratio is currently 2.5 days.

Globe Life Price Performance

Shares of GL stock traded up $0.88 during trading hours on Thursday, reaching $122.83. 34,102 shares of the company were exchanged, compared to its average volume of 514,338. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock’s fifty day moving average is $111.62 and its two-hundred day moving average is $105.33. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 10.39 and a beta of 0.80.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GL shares. Raymond James lifted their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Piper Sandler raised their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial increased their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.18.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is owned by corporate insiders.

Institutional Trading of Globe Life

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuance Investments LLC grew its position in shares of Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after buying an additional 693,346 shares during the period. Swedbank AB bought a new stake in Globe Life in the fourth quarter valued at approximately $52,414,000. International Assets Investment Management LLC raised its holdings in Globe Life by 15,398.7% in the third quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock worth $356,530,000 after purchasing an additional 334,459 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Globe Life by 380.4% in the 3rd quarter. SG Americas Securities LLC now owns 254,411 shares of the company’s stock valued at $26,945,000 after buying an additional 201,449 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.