Stock Traders Purchase High Volume of Globe Life Put Options (NYSE:GL)

Globe Life Inc. (NYSE:GL) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 5,646 put options on the stock. This is an increase of 13% compared to the typical volume of 5,003 put options.

Insiders Place Their Bets

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David A. Rodriguez acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the acquisition, the director now directly owns 4,192 shares of the company’s stock, valued at $334,186.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perigon Wealth Management LLC raised its stake in Globe Life by 7.6% during the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after purchasing an additional 184 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Globe Life by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after purchasing an additional 167 shares in the last quarter. Principal Financial Group Inc. raised its stake in Globe Life by 1.8% during the first quarter. Principal Financial Group Inc. now owns 103,353 shares of the company’s stock valued at $12,027,000 after purchasing an additional 1,823 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Globe Life in the first quarter valued at $4,422,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Globe Life by 13.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 73,496 shares of the company’s stock worth $8,553,000 after buying an additional 8,600 shares during the period. Institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and cut their target price for the company from $130.00 to $110.00 in a research report on Wednesday, April 24th. Piper Sandler cut their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Finally, Wells Fargo & Company dropped their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Stock Performance

GL opened at $76.17 on Wednesday. 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 company has a 50 day simple moving average of $105.71 and a two-hundred day simple moving average of $115.07. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market cap of $7.16 billion, a P/E ratio of 7.28 and a beta of 0.69.

Globe Life (NYSE:GL) last issued its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company posted $2.53 EPS. Globe Life’s revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that Globe Life will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.24 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.26%. Globe Life’s dividend payout ratio is currently 9.17%.

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.