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

Globe Life Inc. (NYSE:GL) was the target of a significant drop in short interest in the month of 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. Approximately 2.1% of the company’s stock are sold short. Based on an average daily volume of 674,800 shares, the days-to-cover ratio is presently 2.5 days.

Globe Life Stock Performance

Shares of Globe Life stock traded down $0.13 during trading on Friday, reaching $122.17. The company’s stock had a trading volume of 663,993 shares, compared to its average volume of 487,557. The company has a 50-day moving average price of $112.12 and a two-hundred day moving average price of $105.69. The firm has a market cap of $10.26 billion, a PE ratio of 10.34 and a beta of 0.80. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were issued 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 dividend yield of 0.79%. Globe Life’s payout ratio is 8.12%.

Insider Activity

In related news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,788 shares of company stock valued at $4,429,779. 1.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Globe Life

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc increased its stake in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after buying an additional 194 shares during the period. Albion Financial Group UT acquired a new position in Globe Life in the 4th quarter valued at $28,000. Riverview Trust Co acquired a new position in Globe Life in the 3rd quarter valued at $32,000. True Wealth Design LLC acquired a new position in Globe Life in the 3rd quarter valued at $59,000. Finally, Quarry LP increased its stake in Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after buying an additional 270 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. BMO Capital Markets started coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Finally, Piper Sandler raised their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.18.

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.