Globe Life Inc. (NYSE:GL) Short Interest Update

Globe Life Inc. (NYSE:GLGet Rating) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 873,200 shares, a drop of 20.6% from the March 15th total of 1,100,000 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 617,600 shares, the days-to-cover ratio is presently 1.4 days.

In other news, EVP Robert Brian Mitchell sold 3,000 shares of Globe Life stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $97.95, for a total transaction of $293,850.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael Shane Henrie sold 1,500 shares of Globe Life stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $102.94, for a total value of $154,410.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,957 shares of company stock worth $3,999,514. 4.62% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in GL. Thrivent Financial for Lutherans boosted its position in Globe Life by 25.8% during the third quarter. Thrivent Financial for Lutherans now owns 347,427 shares of the company’s stock worth $30,932,000 after purchasing an additional 71,284 shares during the period. Invesco Ltd. boosted its position in Globe Life by 9.0% during the third quarter. Invesco Ltd. now owns 1,175,506 shares of the company’s stock worth $104,655,000 after purchasing an additional 97,400 shares during the period. Quest Capital Management Inc. ADV boosted its position in Globe Life by 38.6% during the fourth quarter. Quest Capital Management Inc. ADV now owns 3,847 shares of the company’s stock worth $361,000 after purchasing an additional 1,072 shares during the period. Banque Pictet & Cie SA bought a new stake in Globe Life during the fourth quarter worth approximately $1,822,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Globe Life by 18.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 39,069 shares of the company’s stock worth $3,478,000 after purchasing an additional 6,153 shares during the period. 73.85% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE GL opened at $101.87 on Tuesday. Globe Life has a one year low of $85.25 and a one year high of $108.61. The firm has a market capitalization of $10.12 billion, a PE ratio of 14.11 and a beta of 1.02. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $101.07 and a two-hundred day moving average price of $97.39.

Globe Life (NYSE:GLGet Rating) last announced its quarterly earnings results on Wednesday, February 2nd. The company reported $1.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.07). The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. Globe Life had a net margin of 14.57% and a return on equity of 8.39%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Investors of record on Monday, April 4th will be paid a $0.2075 dividend. This is a boost from Globe Life’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, April 1st. This represents a $0.83 annualized dividend and a dividend yield of 0.81%. Globe Life’s payout ratio is presently 11.50%.

Several brokerages have recently issued reports on GL. Piper Sandler upgraded Globe Life from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $105.00 to $117.00 in a research report on Wednesday, January 12th. Wolfe Research began coverage on Globe Life in a research note on Friday, January 21st. They issued an “underperform” rating and a $85.00 price target on the stock. StockNews.com began coverage on Globe Life in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley lifted their price target on Globe Life from $105.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 22nd. Finally, Zacks Investment Research raised Globe Life from a “sell” rating to a “hold” rating in a research note on Monday, February 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $108.33.

Globe Life Company Profile (Get Rating)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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