The price of Globe Life Inc. (NYSE:GL) shares last traded on Wall Street fell -1.10% to $117.32.
Based on available information, 11 analysts follow Globe Life Inc. (NYSE:GL). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $140.00 and a low of $112.00, we find $125.50. Given the previous closing price of $118.63, this indicates a potential upside of 5.79 percent. GL stock price is now -0.27% away from the 50-day moving average and 11.56% away from the 200-day moving average. The market capitalization of the company currently stands at $11.42B.
Among analysts, 6 rate the stock a hold while 4 rate it a buy. Brokers who have rated the stock have averaged $127.70 as their price target over the next twelve months.
With the price target reduced from $115 to $114, Evercore ISI Downgraded its rating from Outperform to In-line for Globe Life Inc. (NYSE: GL). On September 22, 2022, Raymond James recently initiated its ‘Strong Buy’ rating on the stock quoting a target price of $138, while ‘Evercore ISI’ rates the stock as ‘Outperform’.
In other news, COLEMAN GARY L, Co-Chairman & CEO sold 12,000 shares of the company’s stock on Dec 30. The stock was sold for $1,451,372 at an average price of $120.95. Upon completion of the transaction, the Co-Chairman & CEO now directly owns 624,904 shares in the company, valued at $73.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 30, Co-Chaiman & CEO HUTCHISON LARRY M sold 12,000 shares of the business’s stock. A total of $1,235,702 was realized by selling the stock at an average price of $102.98. This leaves the insider owning 730,792 shares of the company worth $85.74 million. Insiders disposed of 369,039 shares of company stock worth roughly $43.3 million over the past 1 year. A total of 1.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GL stock. A new stake in Globe Life Inc. shares was purchased by LOS ANGELES CAPITAL MANAGEMENT LLC during the first quarter worth $49,022,000. GILLSON CAPITAL LP invested $21,639,000 in shares of GL during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in Globe Life Inc. valued at approximately $13,557,000. LOMBARD ODIER ASSET MANAGEMENT (SWITZERLAND) SA acquired a new stake in GL for approximately $11,732,000. GREAT WEST LIFE ASSURANCE CO /CAN/ purchased a new stake in GL valued at around $6,986,000 in the second quarter. In total, there are 709 active investors with 84.00% ownership of the company’s stock.
A candlestick chart of Globe Life Inc. (NYSE: GL) showed a price of $118.27 on Thursday morning. During the past 12 months, Globe Life Inc. has had a low of $87.87 and a high of $123.85. The fifty day moving average price for GL is $117.70 and a two-hundred day moving average price translates $105.24 for the stock.
The latest earnings results from Globe Life Inc. (NYSE: GL) was released for Sep, 2022. The net profit margin was 13.60% and return on equity was 11.20% for GL. For the current quarter, analysts expect GL to generate $1.34B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/01/2023. Investors who held shares on 01/06/2023 were paid a $0.2075 dividend. On an annualized basis, this represents a $0.83 dividend and a 0.71% percent yield. There was an ex-dividend date of 01/05/2023 for this dividend. In terms of dividend payout ratio, GL is presently at 11.30%.
Globe Life Inc.(GL) Company Profile
Globe Life Inc., through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. It offers whole life, term life, and other life insurance products; Medicare supplement and supplemental health insurance, such as critical illness and accident plans; and single-premium and flexible-premium deferred annuities. The company was formerly known as Torchmark Corporation and changed its name to Globe Life Inc. in August 2019. Globe Life Inc. was incorporated in 1979 and is headquartered in McKinney, Texas.