In a report released yesterday, Elyse Greenspan from Wells Fargo maintained a Buy rating on Globe Life (GL – Research Report), with a price target of $146.00. The company’s shares closed yesterday at $126.33.
According to TipRanks, Greenspan is a 5-star analyst with an average return of 10.3% and a 63.44% success rate. Greenspan covers the Financial sector, focusing on stocks such as Allstate, Arthur J Gallagher & Co, and Metlife.
Currently, the analyst consensus on Globe Life is a Moderate Buy with an average price target of $135.78, a 7.48% upside from current levels. In a report released on February 8, J.P. Morgan also maintained a Buy rating on the stock with a $136.00 price target.
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Based on Globe Life’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.38 billion and a net profit of $257.08 million. In comparison, last year the company earned a revenue of $1.3 billion and had a net profit of $190.59 million
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GL in relation to earlier this year. Most recently, in November 2023, Michael Clay Majors, the Executive Vice-President – Chief Strategy Officer of GL sold 15,000.00 shares for a total of $1,790,400.00.
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Globe Life (GL) Company Description:
Globe Life, Inc. is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances. The Supplement Health Insurance segment provides generally guaranteed-renewable and include medicare supplement, critical illness, accident, and limited-benefit supplemental hospital, and surgical coverage. The Annuities segment refers to fixed-benefit contracts. The Investments segment covers the investment portfolio. The company was founded on November 19, 1979 and is headquartered in McKinney, TX.
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