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

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

Wall Street Analysts Forecast Growth

GL has been the subject of several research reports. Piper Sandler raised their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Truist Financial raised their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Finally, TD Cowen assumed coverage on Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $132.18.

Globe Life Stock Down 0.1 %

NYSE:GL traded down $0.13 on Friday, hitting $122.17. 663,993 shares of the company’s stock traded hands, compared to its average volume of 487,557. The firm has a 50-day moving average price of $112.12 and a 200-day moving average price of $105.69. 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 company has a market cap of $10.26 billion, a PE ratio of 10.34 and a beta of 0.80. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Globe Life’s payout ratio is 8.12%.

Insider Buying and Selling at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,788 shares of company stock worth $4,429,779 over the last ninety days. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its position in Globe Life by 388.0% during the fourth 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 bought a new position in shares of Globe Life during the 4th quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of Globe Life in the 3rd quarter valued at $32,000. True Wealth Design LLC bought a new stake in Globe Life in the third quarter worth $59,000. Finally, Quarry LP increased its position in Globe Life by 47.5% during the second quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

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.