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

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

Globe Life Price Performance

GL traded down $0.13 during midday trading on Friday, hitting $122.17. 663,993 shares of the company traded hands, compared to its average volume of 487,557. The business has a 50 day simple moving average of $112.12 and a two-hundred day simple moving average of $105.69. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 10.34 and a beta of 0.80. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date was Monday, January 6th. Globe Life’s payout ratio is currently 8.12%.

Insider Activity at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock worth $4,429,779 in the last 90 days. 1.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund increased its position in Globe Life by 13.0% during the fourth quarter. New York State Common Retirement Fund now owns 156,508 shares of the company’s stock worth $17,454,000 after purchasing an additional 18,033 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Globe Life during the fourth quarter worth about $903,000. Truist Financial Corp boosted its stake in Globe Life by 44.7% during the fourth quarter. Truist Financial Corp now owns 50,921 shares of the company’s stock worth $5,679,000 after buying an additional 15,719 shares during the period. New Mexico Educational Retirement Board boosted its stake in Globe Life by 2.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock worth $472,000 after buying an additional 100 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in Globe Life by 0.9% during the fourth quarter. New York State Teachers Retirement System now owns 99,537 shares of the company’s stock worth $11,100,000 after buying an additional 919 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Raymond James lifted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. 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 research report on Thursday, October 10th. Finally, TD Cowen began coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $132.18.

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.