Globe Life Target of Unusually Large Options Trading (NYSE:GL)

Globe Life Inc. (NYSE:GL) was the target of unusually large options trading on Thursday. Investors acquired 7,849 call options on the company. This represents an increase of 120% compared to the typical daily volume of 3,570 call options.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler dropped their price target on Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. Keefe, Bruyette & Woods decreased their price objective on Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. Evercore ISI decreased their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a report on Friday, April 12th. Truist Financial reissued a “hold” rating and issued a $125.00 price objective on shares of Globe Life in a report on Friday, April 12th. Finally, StockNews.com raised Globe Life from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.44.

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently modified their holdings of GL. Pacer Advisors Inc. boosted its position in Globe Life by 488.6% during the fourth quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock valued at $4,092,000 after purchasing an additional 27,908 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Globe Life by 5.2% in the fourth quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock worth $3,172,000 after buying an additional 1,295 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Globe Life by 191.4% in the fourth quarter. SG Americas Securities LLC now owns 32,810 shares of the company’s stock worth $3,994,000 after buying an additional 21,552 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Globe Life by 72.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock worth $443,000 after buying an additional 1,526 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Globe Life by 1.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 37,367 shares of the company’s stock worth $4,548,000 after buying an additional 397 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

GL opened at $64.99 on Friday. The firm has a market cap of $6.11 billion, a PE ratio of 6.45 and a beta of 0.69. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $112.97 and a 200-day simple moving average of $116.83. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 24.25% and a net margin of 17.82%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $2.24 EPS. As a group, equities analysts predict that Globe Life will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.48%. Globe Life’s dividend payout ratio (DPR) is currently 9.52%.

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.