Globe Life Inc. (NYSE:GL - Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 3,430,000 shares, an increase of 24.7% from the March 31st total of 2,750,000 shares. Approximately 3.7% of the company's shares are sold short. Based on an average trading volume of 2,390,000 shares, the days-to-cover ratio is presently 1.4 days.
Globe Life Stock Performance
Shares of NYSE GL traded down $1.92 during midday trading on Tuesday, reaching $76.17. 5,119,704 shares of the company were exchanged, compared to its average volume of 2,202,076. The stock has a market cap of $7.16 billion, a P/E ratio of 7.28 and a beta of 0.69. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The stock has a fifty day simple moving average of $105.71 and a 200 day simple moving average of $115.07. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36.
Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.53 earnings per share. On average, research analysts forecast that Globe Life will post 11.73 earnings per share for the current fiscal year.
Globe Life Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.24 dividend. This is a boost from Globe Life's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, April 4th. Globe Life's payout ratio is currently 9.17%.
Wall Street Analyst Weigh In
Several research firms have commented on GL. Keefe, Bruyette & Woods upgraded shares of Globe Life from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. Truist Financial lowered their target price on shares of Globe Life from $125.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, April 24th. StockNews.com lowered Globe Life from a "buy" rating to a "hold" rating in a report on Saturday, April 20th. Piper Sandler decreased their price target on Globe Life from $130.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, April 24th. Finally, Wells Fargo & Company dropped their price objective on Globe Life from $132.00 to $108.00 and set an "overweight" rating on the stock in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $114.33.
Check Out Our Latest Research Report on GL
Insider Transactions at Globe Life
In other news, Director David A. Rodriguez acquired 1,500 shares of the business's stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the acquisition, the director now owns 4,192 shares of the company's stock, valued at $334,186.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Rebecca E. Zorn sold 2,320 shares of the company's stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares of the company's stock, valued at $790,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction dated Wednesday, April 24th. The stock was bought at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the purchase, the director now owns 4,192 shares of the company's stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company's stock.
Hedge Funds Weigh In On Globe Life
Large investors have recently bought and sold shares of the company. Private Trust Co. NA raised its stake in shares of Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company's stock worth $27,000 after buying an additional 162 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in Globe Life in the fourth quarter worth $27,000. BKM Wealth Management LLC acquired a new stake in Globe Life in the fourth quarter valued at $28,000. Lindbrook Capital LLC boosted its position in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company's stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Globe Life by 177.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company's stock worth $34,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.
About Globe Life
(
Get Free Report)
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.
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