Globe Life (NYSE:GL) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Globe Life (NYSE:GL) posted its quarterly earnings data on Tuesday. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.03, MarketWatch Earnings reports. Globe Life had a return on equity of 8.69% and a net margin of 15.29%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $1.65 EPS. Globe Life’s revenue was up 7.6% compared to the same quarter last year.

GL opened at $93.85 on Thursday. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 13.96 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.06 and a quick ratio of 0.06. The business has a 50 day simple moving average of $99.92. Globe Life has a 1-year low of $74.44 and a 1-year high of $108.22.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Monday, July 5th will be paid a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Thursday, July 1st.

Several equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on Globe Life from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, July 8th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Globe Life from $100.00 to $105.00 and gave the stock an “underweight” rating in a report on Wednesday, May 19th. Zacks Investment Research lowered shares of Globe Life from a “hold” rating to a “sell” rating in a research note on Friday, July 9th. Credit Suisse Group raised their target price on shares of Globe Life from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, June 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Globe Life from $99.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, April 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $105.80.

In other news, insider Kenneth J. Matson sold 17,000 shares of Globe Life stock in a transaction that occurred on Friday, April 23rd. The shares were sold at an average price of $103.03, for a total transaction of $1,751,510.00. Following the sale, the insider now owns 46,693 shares of the company’s stock, valued at approximately $4,810,779.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven John Dichiaro sold 30,000 shares of Globe Life stock in a transaction that occurred on Thursday, May 20th. The shares were sold at an average price of $104.47, for a total transaction of $3,134,100.00. Following the sale, the insider now directly owns 47,973 shares in the company, valued at approximately $5,011,739.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 205,000 shares of company stock worth $21,506,740. Corporate insiders own 4.30% 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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