Short Interest in National Western Life Group Inc (NASDAQ:NWLI) Increases By 16.2%

National Western Life Group Inc (NASDAQ:NWLI) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 26,500 shares, an increase of 16.2% from the May 30th total of 22,800 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 8,100 shares, the days-to-cover ratio is currently 3.3 days.

Shares of NWLI traded up $1.50 during mid-day trading on Friday, reaching $263.00. The stock had a trading volume of 4,847 shares, compared to its average volume of 6,976. The firm has a market capitalization of $957.32 million, a price-to-earnings ratio of 7.69 and a beta of 0.90. National Western Life Group has a 12 month low of $251.50 and a 12 month high of $335.00. The business’s fifty day moving average price is $262.25.

National Western Life Group (NASDAQ:NWLI) last posted its quarterly earnings results on Thursday, May 9th. The financial services provider reported $10.34 earnings per share for the quarter. The business had revenue of $217.91 million during the quarter. National Western Life Group had a net margin of 19.14% and a return on equity of 6.16%.

A number of equities analysts have weighed in on NWLI shares. BidaskClub lowered shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd.

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC bought a new position in shares of National Western Life Group in the first quarter worth approximately $36,000. Legal & General Group Plc boosted its position in shares of National Western Life Group by 17.0% in the fourth quarter. Legal & General Group Plc now owns 434 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 63 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of National Western Life Group by 180.1% in the first quarter. BNP Paribas Arbitrage SA now owns 521 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 335 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of National Western Life Group by 365.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 726 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 570 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of National Western Life Group during the fourth quarter worth $235,000. Institutional investors and hedge funds own 79.53% of the company’s stock.

About National Western Life Group

National Western Life Group, Inc, through its subsidiary, National Western Life Insurance Company, operates as a stock life insurance company. It operates through Domestic Life Insurance, International Life Insurance, and Annuities segments. The company provides life insurance products for the savings and protection needs of policyholders; and annuity contracts for the asset accumulation and retirement needs of contract holders.

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