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

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

Insider Transactions at Globe Life

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was 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 directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,788 shares of company stock valued at $4,429,779. Corporate insiders own 1.51% of the company's stock.

Hedge Funds Weigh In On Globe Life

Several hedge funds and other institutional investors have recently made changes to their positions in GL. Versant Capital Management Inc raised 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 valued at $27,000 after acquiring an additional 194 shares in the last quarter. Albion Financial Group UT acquired a new position in shares of Globe Life during the fourth quarter valued at $28,000. Riverview Trust Co bought a new stake in shares of Globe Life during the third quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock worth $50,000 after purchasing an additional 281 shares during the period. Finally, True Wealth Design LLC bought a new position in Globe Life in the 3rd quarter valued at about $59,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Performance

GL traded up $1.23 during trading on Friday, reaching $118.47. 418,802 shares of the company were exchanged, compared to its average volume of 577,891. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.94 billion, a P/E ratio of 10.02 and a beta of 0.80. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The firm has a 50 day moving average of $109.72 and a 200 day moving average of $102.86.

Globe Life (NYSE:GL - Get Free Report) last released 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.71 earnings per share. On average, sell-side analysts forecast that Globe Life will post 12.32 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.81%. Globe Life's dividend payout ratio (DPR) is presently 8.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GL shares. Wells Fargo & Company upped their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Truist Financial upped their price objective on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Jefferies Financial Group increased their target price on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Raymond James upped their price target on Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 15th. Finally, TD Cowen initiated coverage on Globe Life in a research note on Wednesday, October 9th. They set a "buy" rating and a $150.00 price objective on the stock. Four equities research 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, the stock has an average rating of "Moderate Buy" and an average price target of $134.00.

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.