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

Globe Life Inc. (NYSE:GL) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,710,000 shares, a drop of 21.9% from the December 15th total of 2,190,000 shares. Based on an average daily trading volume, of 674,800 shares, the short-interest ratio is currently 2.5 days. Approximately 2.1% of the shares of the company are sold short.

Insider Activity at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction 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 in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the sale, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock worth $4,429,779 in the last three months. Insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

A number of institutional investors and hedge funds have recently bought and sold shares of GL. Acadian Asset Management LLC increased its position in Globe Life by 132.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,204 shares of the company’s stock worth $180,000 after purchasing an additional 1,257 shares in the last quarter. American Century Companies Inc. increased its position in Globe Life by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 97,664 shares of the company’s stock worth $8,036,000 after purchasing an additional 30,760 shares in the last quarter. Federated Hermes Inc. increased its position in Globe Life by 107.0% during the 2nd quarter. Federated Hermes Inc. now owns 31,612 shares of the company’s stock worth $2,601,000 after purchasing an additional 16,338 shares in the last quarter. Moors & Cabot Inc. increased its position in Globe Life by 45.3% during the 2nd quarter. Moors & Cabot Inc. now owns 3,543 shares of the company’s stock worth $292,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Globe Life by 88.2% in the 2nd quarter. Edgestream Partners L.P. now owns 3,762 shares of the company’s stock worth $310,000 after acquiring an additional 1,763 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

GL has been the subject of several research reports. Piper Sandler lifted their price target on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company lifted their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley lifted their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus target price of $134.00.

Globe Life Trading Down 0.2 %

Shares of NYSE GL traded down $0.19 on Thursday, reaching $115.99. 89,905 shares of the company traded hands, compared to its average volume of 566,854. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a 50 day moving average of $109.55 and a 200 day moving average of $102.76. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $9.74 billion, a PE ratio of 9.81 and a beta of 0.80.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $2.71 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that Globe Life will post 12.32 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio is currently 8.12%.

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.