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Globe Life Inc (GL) – Don’t Be So Quick to Call it Dead

Globe Life Inc (NYSE: GL) is -8.89% lower on its value in year-to-date trading and has touched a low of $102.23 and a high of $132.00 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GL stock was last observed hovering at around $111.64 in the last trading session, with the day’s loss setting it -0.74%.

Currently trading at $110.90, the stock is -6.81% and -9.37% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.65 million and changing -0.66% at the moment leaves the stock -4.87% off its SMA200. GL registered 0.80% gain for a year compared to 6-month gain of 2.20%. The firm has a 50-day simple moving average (SMA 50) of $2.30.

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The stock witnessed a -12.19% loss in the last 1 month and extending the period to 3 months gives it a -9.14%, and is -4.79% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.20% over the week and 2.28% over the month.

Globe Life Inc (GL) has around 3636 employees, a market worth around $10.43B and $5.45B in sales. Current P/E ratio is 11.00 and Fwd P/E is 8.84. Profit margin for the company is 17.82%. Distance from 52-week low is 8.48% and -15.98% from its 52-week high. The company has generated returns on investments over the last 12 months (15.87%).

Globe Life Inc quarterly earnings per share for the current quarter are estimated at $2.79 with sales reaching $1.43B over the same period.The EPS is expected to grow by 8.90% this year, but quarterly earnings will post 6.70% year-over-year. Quarterly sales are estimated to grow 8.00% in year-over-year returns.

868 institutions hold shares in Globe Life Inc (GL), with institutional investors hold 85.43% of the company’s shares. The shares outstanding are 93.79M, and float is at 91.90M with Short Float at 2.51%. Institutions hold 83.57% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 10.7 million shares valued at $1.17 billion. The investor’s holdings represent 11.30% of the GL Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 6.21 million shares valued at $680.64 million to account for 6.56% of the shares outstanding. The other top investors are Wellington Management Group, LLP which holds 5.24 million shares representing 5.53% and valued at over $573.89 million, while JP Morgan Chase & Company holds 4.31% of the shares totaling 4.08 million with a market value of $447.23 million.

Globe Life Inc (GL) Insider Activity

The most recent transaction is an insider sale by Haworth Jennifer Allison, the company’s EVP & Chief Marketing Officer. SEC filings show that Haworth Jennifer Allison sold 2,524 shares of the company’s common stock on Dec 29 ’23 at a price of $121.37 per share for a total of $0.31 million. Following the sale, the insider now owns 8606.0 shares.

Globe Life Inc disclosed in a document filed with the SEC on Dec 12 ’23 that BUCHAN JANE (Director) sold a total of 1,000 shares of the company’s common stock. The trade occurred on Dec 12 ’23 and was made at $124.50 per share for $0.12 million. Following the transaction, the insider now directly holds 80285.0 shares of the GL stock.

Still, SEC filings show that on Dec 11 ’23, Skarjune Dolores L (EVP and Chief Admin. Officer) disposed off 20,479 shares at an average price of $123.28 for $2.52 million. The insider now directly holds 4,956 shares of Globe Life Inc (GL).

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