Globe Life Inc. (NYSE:GL) Sees Significant Decline in Short Interest

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GL. Jefferies Financial Group raised their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. TD Cowen started coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Piper Sandler raised their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley upped their target price on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Raymond James lifted their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Five investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.18.

Globe Life Price Performance

Globe Life stock traded down $0.13 during trading hours on Friday, hitting $122.17. The stock had a trading volume of 663,993 shares, compared to its average volume of 487,557. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 10.34 and a beta of 0.80. The stock’s fifty day moving average is $112.12 and its two-hundred day moving average is $105.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Monday, January 6th. Globe Life’s payout ratio is currently 8.12%.

Insider Buying and Selling

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction on 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 transaction, the chief marketing officer now owns 13,485 shares of the company’s stock, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. 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 quarter. 1.51% of the stock is currently owned by company insiders.

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after buying an additional 194 shares during the period. Albion Financial Group UT acquired a new position in shares of Globe Life in the fourth quarter worth about $28,000. Riverview Trust Co purchased a new position in Globe Life in the third quarter valued at about $32,000. True Wealth Design LLC acquired a new stake in Globe Life during the 3rd quarter valued at approximately $59,000. Finally, Quarry LP increased its holdings in Globe Life by 47.5% during the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.