Globe Life (NYSE:GL) Releases Earnings Results, Beats Expectations By $0.04 EPS

Globe Life (NYSE:GL) issued its earnings results on Wednesday. The company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.04, reports. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Globe Life had a net margin of 16.26% and a return on equity of 12.34%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 earnings per share.

Shares of NYSE GL traded up $1.11 during mid-day trading on Thursday, reaching $96.78. The company’s stock had a trading volume of 34,526 shares, compared to its average volume of 360,811. The business has a 50-day simple moving average of $94.07. The firm has a market cap of $10.47 billion, a PE ratio of 15.80, a P/E/G ratio of 1.87 and a beta of 0.95. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.20. Globe Life has a 1-year low of $69.68 and a 1-year high of $96.92.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, October 3rd. Globe Life’s dividend payout ratio (DPR) is 11.26%.

GL has been the subject of a number of recent research reports. ValuEngine cut shares of Globe Life from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. UBS Group reduced their target price on shares of Globe Life from $85.00 to $84.00 and set a “sell” rating for the company in a research report on Thursday, October 10th. Zacks Investment Research upgraded shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Tuesday, September 3rd. Finally, Credit Suisse Group initiated coverage on shares of Globe Life in a research report on Friday, September 20th. They issued an “outperform” rating and a $114.00 target price for the company.

In related news, Director David L. Boren sold 10,900 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $87.02, for a total transaction of $948,518.00. Following the completion of the sale, the director now directly owns 203 shares in the company, valued at $17,665.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vern D. Herbel sold 50,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at $4,612,500. The disclosure for this sale can be found here. Insiders sold 100,820 shares of company stock valued at $9,241,936 over the last quarter. Company insiders own 3.64% of the company’s stock.

About Globe Life

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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Earnings History for Globe Life (NYSE:GL)

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