The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Globe Life Inc shares valued at $306,348 were sold by Haworth Jennifer Allison on Dec 29 ’23. At $121.37 per share, Haworth Jennifer Allison sold 2,524 shares. The insider’s holdings dropped to 8,606 shares worth approximately $0.56 million following the completion of this transaction.
Also, BUCHAN JANE sold 1,000 shares, netting a total of over 124,500 in proceeds. Following the sale of shares at $124.50 each, the insider now holds 80,285 shares.
Before that, Skarjune Dolores L had sold 20,479 shares from its account. In a trade valued at $2,524,565, the EVP and Chief Admin. Officer traded Globe Life Inc shares for $123.28 each. Upon closing the transaction, the insider’s holdings decreased to 20,479 shares, worth approximately $0.32 million.
As published in a research note from Wells Fargo on October 31, 2023, Globe Life Inc [GL] has been rated up from an Equal weight to an Overweight and the price target has been revised to $137 from $122. Analysts at Morgan Stanley upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid August. As of April 25, 2023, Wells Fargo has initiated its “an Equal weight” rating for GL. Earlier on October 28, 2022, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for GL stock which previously was a “an Outperform”.
Analyzing GL Stock Performance
During the last five days, there has been a surge of approximately 32.19%. Over the course of the year, Globe Life Inc shares have dropped approximately -46.60%. Shares of the company reached a 52-week high of $132.00 on 02/22/24 and a 52-week low of $38.95 on 04/11/24. A 50-day SMA is recorded $113.07, while a 200-day SMA reached $115.12. Nevertheless, trading volume fell to 5.35 million shares from 5.38 million shares the previous day.
Support And Resistance Levels for Globe Life Inc (GL)
According to the 24-hour chart, there is a support level at 62.37, which, if violated, would cause prices to drop to 59.75. In the upper region, resistance lies at 68.52. The next price resistance is at 72.05. RSI (Relative Strength Index) is 25.82 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -24.97, which suggests the price will decrease in the coming days. Percent R is at 66.20%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
