Traders Purchase High Volume of Globe Life Put Options (NYSE:GL)

Globe Life Inc. (NYSE:GL) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 5,646 put options on the company. This represents an increase of approximately 13% compared to the typical volume of 5,003 put options.

Insiders Place Their Bets

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Rodriguez acquired 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GL. Private Trust Co. NA increased its holdings in shares of Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 162 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of Globe Life during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC bought a new position in shares of Globe Life during the 4th quarter valued at approximately $28,000. Lindbrook Capital LLC grew its holdings in shares of Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after purchasing an additional 177 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Down 2.6 %

Shares of Globe Life stock traded down $2.05 on Tuesday, reaching $76.04. The company’s stock had a trading volume of 3,758,511 shares, compared to its average volume of 2,183,990. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The firm’s fifty day simple moving average is $105.71 and its two-hundred day simple moving average is $115.07. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 7.47 and a beta of 0.69.

Globe Life (NYSE:GL) last announced its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Globe Life’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Globe Life will post 11.73 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.26%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s payout ratio is presently 9.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company decreased their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

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.