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

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

Globe Life Stock Performance

Shares of GL stock opened at $79.48 on Thursday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $104.71 and a two-hundred day simple moving average of $114.81. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The firm has a market capitalization of $7.47 billion, a PE ratio of 7.59 and a beta of 0.78.

Globe Life (NYSE:GL) last posted 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). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS. Analysts forecast that Globe Life will post 11.72 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were issued a dividend of $0.24 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of analyst reports. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Truist Financial decreased their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. 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 report on Friday, April 12th. Finally, Wells Fargo & Company dropped their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Insiders Place Their Bets

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was 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 owns 10,220 shares of the company’s stock, valued at $790,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at approximately $790,006. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Rodriguez purchased 1,500 shares of Globe Life stock in a transaction on 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 transaction, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Large investors have recently made changes to their positions in the business. Private Trust Co. NA grew its position in Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after buying an additional 162 shares during the period. Private Wealth Management Group LLC bought a new position in Globe Life in the 4th quarter worth about $27,000. BKM Wealth Management LLC purchased a new position in Globe Life during the 4th quarter valued at about $28,000. Lindbrook Capital LLC increased its position in shares of 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 buying an additional 92 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after buying an additional 177 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.