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

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

Insider Transactions at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value 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. This represents a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction 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 $1,522,591.35. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock valued at $4,429,779 over the last 90 days. 1.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Globe Life

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its stake in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the last quarter. Riverview Trust Co purchased a new position in Globe Life in the third quarter valued at approximately $32,000. True Wealth Design LLC purchased a new position in Globe Life in the third quarter valued at approximately $59,000. Benjamin F. Edwards & Company Inc. increased its stake in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after purchasing an additional 270 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GL shares. TD Cowen started coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their target price for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Piper Sandler upped their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley increased their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group increased their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $134.00.

Globe Life Stock Down 0.2 %

NYSE:GL traded down $0.19 during mid-day trading on Thursday, hitting $115.99. The stock had a trading volume of 89,905 shares, compared to its average volume of 566,854. The stock has a 50-day simple moving average of $109.55 and a two-hundred day simple moving average of $102.76. The company has a market capitalization of $9.74 billion, a PE ratio of 9.81 and a beta of 0.80. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

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

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.83%. 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.