Globe Life Inc. (NYSE:GL) Short Interest Down 7.3% in April

Globe Life Inc. (NYSE:GL – Get Rating) saw a large drop in short interest in April. As of April 30th, there was short interest totalling 1,150,000 shares, a drop of 7.3% from the April 15th total of 1,240,000 shares. Based on an average trading volume of 557,700 shares, the short-interest ratio is presently 2.1 days. Currently, 1.2% of the company’s stock are sold short.

Globe Life Trading Up 0.4 %

Shares of Globe Life stock opened at $107.58 on Tuesday. Globe Life has a 1-year low of $87.87 and a 1-year high of $123.85. The stock has a market cap of $10.38 billion, a P/E ratio of 13.27 and a beta of 0.79. The stock’s 50 day simple moving average is $108.68 and its 200-day simple moving average is $115.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $2.53 EPS for the quarter, topping the consensus estimate of $2.47 by $0.06. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.36 billion. Globe Life had a return on equity of 18.20% and a net margin of 15.28%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $1.70 earnings per share. Analysts predict that Globe Life will post 10.36 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Monday, April 3rd were paid a $0.225 dividend. The ex-dividend date of this dividend was Friday, March 31st. This is a boost from Globe Life’s previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a yield of 0.84%. Globe Life’s dividend payout ratio (DPR) is currently 11.10%.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Morgan Stanley decreased their price target on Globe Life from $133.00 to $129.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 12th. Wells Fargo & Company assumed coverage on Globe Life in a report on Tuesday, April 25th. They issued an “equal weight” rating and a $120.00 target price on the stock. Piper Sandler reduced their price target on Globe Life from $135.00 to $130.00 in a research report on Friday, May 5th. Finally, Truist Financial raised their price objective on Globe Life from $112.00 to $125.00 and gave the company a “hold” rating in a research note on Friday, February 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

Insiders Place Their Bets

In other Globe Life news, CAO Michael Shane Henrie sold 2,225 shares of the business’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $110.29, for a total transaction of $245,395.25. Following the sale, the chief accounting officer now directly owns 700 shares in the company, valued at approximately $77,203. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Globe Life news, CEO Frank M. Svoboda sold 10,000 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $121.26, for a total transaction of $1,212,600.00. Following the transaction, the chief executive officer now directly owns 3,370 shares in the company, valued at approximately $408,646.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael Shane Henrie sold 2,225 shares of the stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $110.29, for a total value of $245,395.25. Following the sale, the chief accounting officer now directly owns 700 shares of the company’s stock, valued at $77,203. The disclosure for this sale can be found here. Insiders sold a total of 91,125 shares of company stock valued at $10,994,960 in the last ninety days. Corporate insiders own 4.33% of the company’s stock.

Institutional Trading of Globe Life

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC increased its position in shares of Globe Life by 34.1% during the first quarter. Cubist Systematic Strategies LLC now owns 70,302 shares of the company’s stock worth $7,735,000 after purchasing an additional 17,876 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Globe Life by 34.1% during the 1st quarter. Johnson Investment Counsel Inc. now owns 6,640 shares of the company’s stock worth $731,000 after acquiring an additional 1,690 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Globe Life by 1.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 47,177 shares of the company’s stock worth $5,190,000 after acquiring an additional 614 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Globe Life during the 1st quarter worth approximately $704,000. Finally, Gotham Asset Management LLC raised its position in shares of Globe Life by 123.7% during the 1st quarter. Gotham Asset Management LLC now owns 11,438 shares of the company’s stock worth $1,258,000 after purchasing an additional 6,326 shares during the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

About Globe Life

(Get Rating)

Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.