Short Interest in Globe Life Inc. (NYSE:GL) Declines By 25.2%

Globe Life Inc. (NYSE:GL - Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 1,220,000 shares, a decrease of 25.2% from the March 15th total of 1,630,000 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 671,300 shares, the short-interest ratio is presently 1.8 days.

Insider Activity

In related news, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. This represents a 36.73 % 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, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.51% of the company's stock.

Institutional Investors Weigh In On Globe Life

Hedge funds have recently bought and sold shares of the stock. World Investment Advisors LLC raised its holdings in Globe Life by 34.7% in the third quarter. World Investment Advisors LLC now owns 5,704 shares of the company's stock valued at $604,000 after acquiring an additional 1,469 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Globe Life by 6.4% in the 3rd quarter. Retirement Systems of Alabama now owns 19,702 shares of the company's stock valued at $2,087,000 after purchasing an additional 1,179 shares in the last quarter. DGS Capital Management LLC purchased a new stake in shares of Globe Life during the 3rd quarter worth $212,000. Principal Financial Group Inc. grew its stake in shares of Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock worth $11,154,000 after purchasing an additional 8,663 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings 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 buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Up 0.9 %

Shares of NYSE GL traded up $1.15 during midday trading on Wednesday, hitting $122.83. The company's stock had a trading volume of 432,978 shares, compared to its average volume of 1,056,598. 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 $10.22 billion, a price-to-earnings ratio of 10.28 and a beta of 0.60. The business's fifty day simple moving average is $124.11 and its two-hundred day simple moving average is $115.95. Globe Life has a 1 year low of $66.25 and a 1 year high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, equities analysts predict that Globe Life will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.88%. This is a boost from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life's payout ratio is presently 9.04%.

Analyst Ratings Changes

GL has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. BMO Capital Markets initiated coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Globe Life from $141.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.55.

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.