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

Globe Life Inc. (NYSE:GL) saw unusually large options trading activity on Thursday. Investors purchased 15,033 put options on the stock. This represents an increase of 1,360% compared to the typical volume of 1,030 put options.

Globe Life Stock Performance

Shares of GL opened at $49.17 on Friday. 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 stock has a market capitalization of $4.62 billion, a P/E ratio of 4.88 and a beta of 0.69. The firm’s fifty day simple moving average is $119.10 and its two-hundred day simple moving average is $118.54. Globe Life has a 12 month low of $38.95 and a 12 month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.24 EPS. As a group, analysts predict that Globe Life will post 11.6 EPS for the current 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 given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, April 4th. This is a boost from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is 9.52%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GL. Piper Sandler lowered their price target on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, April 5th. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Truist Financial boosted their price objective on shares of Globe Life from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Wells Fargo & Company reduced their price objective on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Institutional Investors Weigh In On Globe Life

A number of institutional investors and hedge funds have recently made changes to their positions in GL. Private Trust Co. NA raised its holdings in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in shares of Globe Life in the 4th quarter worth about $27,000. BKM Wealth Management LLC acquired a new stake in shares of Globe Life in the 4th quarter worth about $28,000. Lindbrook Capital LLC raised its holdings in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Globe Life in the 1st quarter worth about $29,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

About Globe Life

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.