Globe Life (NYSE:GL) Updates FY20 Earnings Guidance

Globe Life (NYSE:GL) updated its FY20 earnings guidance on Wednesday. The company provided earnings per share guidance of $7.00-7.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.18. Globe Life also updated its FY 2019 guidance to $6.71-6.77 EPS.

A number of brokerages recently issued reports on GL. Credit Suisse Group began coverage on shares of Globe Life in a research note on Friday, September 20th. They issued an outperform rating and a $114.00 price objective on the stock. Zacks Investment Research upgraded shares of Globe Life from a hold rating to a buy rating and set a $99.00 target price on the stock in a research report on Tuesday, September 3rd. UBS Group cut their target price on shares of Globe Life from $85.00 to $84.00 and set a sell rating on the stock in a research report on Thursday, October 10th. Finally, ValuEngine lowered shares of Globe Life from a hold rating to a sell rating in a research report on Wednesday, October 2nd.

Globe Life stock traded up $0.80 during mid-day trading on Thursday, reaching $96.47. The company had a trading volume of 534,728 shares, compared to its average volume of 467,055. Globe Life has a fifty-two week low of $69.68 and a fifty-two week high of $97.79. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market cap of $10.47 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.87 and a beta of 0.95. The company has a fifty day moving average of $94.07.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. Globe Life had a net margin of 16.26% and a return on equity of 12.34%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business posted $1.59 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that Globe Life will post 6.74 earnings per share for the current fiscal year.

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

In other news, EVP Vern D. Herbel sold 50,000 shares of Globe Life stock in a transaction on Friday, July 26th. The shares were sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the transaction, the executive vice president now owns 50,000 shares in the company, valued at $4,612,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David L. Boren sold 10,900 shares of Globe Life stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $87.02, for a total transaction of $948,518.00. Following the transaction, the director now owns 203 shares in the company, valued at approximately $17,665.06. The disclosure for this sale can be found here. Insiders sold 100,820 shares of company stock worth $9,241,936 in the last 90 days. Company insiders own 3.64% of the company’s stock.

Globe Life Company Profile

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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