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

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

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.51% of the stock is owned by corporate insiders.

Institutional Trading of Globe Life

A number of large investors have recently made changes to their positions in GL. Savant Capital LLC lifted its holdings in Globe Life by 951.5% during the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after buying an additional 68,061 shares during the last quarter. Achmea Investment Management B.V. lifted its stake in Globe Life by 151.4% during the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock worth $2,443,000 after purchasing an additional 17,878 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Globe Life in the second quarter valued at approximately $15,483,000. State Street Corp increased its stake in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Globe Life by 85.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,141 shares in 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 midday trading on Wednesday, hitting $111.52. The company’s stock had a trading volume of 538,991 shares, compared to its average volume of 1,435,554. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm 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 fifty day simple moving average is $108.17 and its two-hundred day simple moving average is $100.52. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.71 earnings per share. On average, equities analysts predict that Globe Life will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

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 $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is presently 8.12%.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of recent research reports. Morgan Stanley raised their target price 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. Raymond James raised their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Piper Sandler boosted their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, TD Cowen initiated coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Five 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 stock. According to data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $127.10.

About Globe Life

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.