Globe Life Sees Unusually High Options Volume (NYSE:GL)

Globe Life Inc. (NYSE:GL) was the recipient of some unusual options trading activity on Thursday. Investors purchased 7,849 call options on the company. This represents an increase of approximately 120% compared to the typical volume of 3,570 call options.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GL. Truist Financial reiterated a “hold” rating and issued a $125.00 target price on shares of Globe Life in a research report on Friday, April 12th. Wells Fargo & Company decreased their target price on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Keefe, Bruyette & Woods decreased their target price on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Evercore ISI reduced their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Five analysts have rated the stock with 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.44.

Globe Life Price Performance

NYSE GL opened at $66.74 on Friday. The company has a 50 day simple moving average of $111.78 and a 200-day simple moving average of $116.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 6.62 and a beta of 0.69. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.24 earnings per share. Equities research analysts predict that Globe Life will post 11.6 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. Investors of record on Friday, April 5th will be issued a $0.24 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.44%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is currently 9.52%.

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently added to or reduced their stakes in GL. Private Trust Co. NA increased its holdings in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after buying an additional 162 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in Globe Life during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new position in Globe Life during the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC grew its holdings in Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Globe Life during the first quarter valued at approximately $29,000. 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.