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

Globe Life Inc. (NYSE:GL) was the target of some unusual options trading activity on Thursday. Stock investors bought 7,849 call options on the company. This is an increase of approximately 120% compared to the average volume of 3,570 call options.

Institutional Investors Weigh In On Globe Life

Several institutional investors and hedge funds have recently added to or reduced their stakes in GL. Wellington Management Group LLP raised its holdings in shares of Globe Life by 37.0% in the 1st quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock worth $735,187,000 after purchasing an additional 1,973,186 shares during the period. Norges Bank bought a new position in shares of Globe Life in the fourth quarter valued at approximately $123,682,000. Envestnet Asset Management Inc. grew its stake in Globe Life by 1,085.6% during the first quarter. Envestnet Asset Management Inc. now owns 834,800 shares of the company’s stock valued at $6,128,000 after acquiring an additional 764,390 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Globe Life by 94.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,397,674 shares of the company’s stock worth $153,213,000 after purchasing an additional 677,778 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Globe Life by 36.3% in the 1st quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock valued at $191,981,000 after purchasing an additional 508,064 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 2.7 %

NYSE GL traded up $1.69 during trading hours on Thursday, hitting $64.92. The company’s stock had a trading volume of 2,517,187 shares, compared to its average volume of 1,813,278. 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 company’s 50-day simple moving average is $114.17 and its two-hundred day simple moving average is $117.20. The company has a market capitalization of $6.11 billion, a PE ratio of 6.44 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 announced its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.15. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the firm earned $2.24 earnings per share. Globe Life’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that Globe Life will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.48%. Globe Life’s payout ratio is 9.52%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GL. StockNews.com raised Globe Life from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Wells Fargo & Company reduced their price objective 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. Evercore ISI dropped their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. Five 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.44.

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.