With a market cap of $12.8 billion, Globe Life Inc. (GL) provides life and supplemental health insurance products primarily to lower middle- and middle-income families. The company operates through three main segments: Life Insurance, Supplemental Health Insurance, and Investments.
Companies valued more than $10 billion are generally classified as “mid-cap” stocks, and Globe Life fits this criterion perfectly. Its offerings include whole and term life policies, Medicare supplements, and various limited-benefit health products such as accident, cancer, and critical illness coverage.
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Shares of the McKinney, Texas-based company have pulled back 12.8% from its 52-week high of $191.55. The stock has decreased 5.3% over the past three months, lagging behind the State Street Financial Select Sector SPDR ETF’s (XLF) 2.6% rise over the same time frame.
www.barchart.comGL stock has increased 19.4% on a YTD basis, outpacing XLF’s marginal gain. Moreover, shares of the company have risen 16.8% over the past 52 weeks, compared to XLF’s 2.6% return over the same time frame.
Yet, the stock has been trading below its 50-day moving average since mid-August.
www.barchart.comGlobe Life has outperformed over the past year due to steady premium growth, particularly in supplemental health, supported by Medicare Supplement rate increases and stronger sales across key businesses. Investments in AI, technology, distribution, and productivity have strengthened its growth outlook, while rising investment income has supported earnings.
In comparison, rival Primerica, Inc. (PRI) has lagged behind GL stock. PRI stock has risen marginally over the past 52 weeks and 6.7% on a YTD basis.
Despite the stock’s outperformance over the past year, analysts remain cautiously optimistic on GL. The stock has a consensus rating of “Moderate Buy” from the 15 analysts in coverage, and the mean price target of $191.78 is a premium of 14.8% to current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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