Short Interest in Globe Life Inc. (NYSE:GL) Increases By 12.3%

Globe Life Inc. (NYSE:GL) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,190,000 shares, a growth of 12.3% from the November 30th total of 1,950,000 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily volume of 689,400 shares, the days-to-cover ratio is currently 3.2 days.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Several institutional investors and hedge funds have recently made changes to their positions in the business. Riverview Trust Co bought a new stake in Globe Life in the third quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of Globe Life in the 3rd quarter valued at approximately $59,000. Quarry LP raised its position in shares of Globe Life by 47.5% during the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after acquiring an additional 270 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in Globe Life by 67.5% during the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $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.

Globe Life Stock Up 1.4 %

Shares of NYSE GL traded up $1.57 during trading on Wednesday, reaching $111.52. 538,991 shares of the stock were exchanged, compared to its average volume of 1,435,554. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 9.43 and a beta of 0.81. The business’s 50-day moving average price is $108.17 and its 200 day moving average price is $100.52. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates 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 in the previous year, the business posted $2.71 EPS. As a group, equities analysts forecast that Globe Life will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GL shares. Truist Financial lifted their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley increased their target price 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. Raymond James raised their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.10.

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.