Jefferies Sticks to Their Hold Rating for Globe Life (GL)

In a report released yesterday, Suneet Kamath from Jefferies maintained a Hold rating on Globe Life (GL – Research Report), with a price target of $107.00. The company’s shares closed last Friday at $109.20.

Kamath covers the Financial sector, focusing on stocks such as Ameriprise Financial, Metlife, and Prudential Financial. According to TipRanks, Kamath has an average return of 12.0% and a 73.54% success rate on recommended stocks.

Globe Life has an analyst consensus of Moderate Buy, with a price target consensus of $128.56, a 17.73% upside from current levels. In a report released on October 25, Truist Financial also maintained a Hold rating on the stock with a $105.00 price target.

Based on Globe Life’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.46 billion and a net profit of $302.99 million. In comparison, last year the company earned a revenue of $1.38 billion and had a net profit of $257.08 million

Based on the recent corporate insider activity of 59 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. Earlier this month, Robert Brian Mitchell, the EVP, GC and CRO of GL sold 8,000.00 shares for a total of $878,714.12.

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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.