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

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

Shares of GL opened at $93.85 on Thursday. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 13.39 and a beta of 1.14. The company has a fifty day moving average of $99.92. Globe Life has a fifty-two week low of $74.44 and a fifty-two week high of $108.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.06 and a current ratio of 0.06.

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

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

In other news, insider Steven John Dichiaro sold 30,000 shares of the business’s stock in a transaction dated Thursday, May 20th. The shares were sold at an average price of $104.47, for a total value of $3,134,100.00. Following the completion of the sale, the insider now owns 47,973 shares of the company’s stock, valued at approximately $5,011,739.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth J. Matson sold 17,000 shares of the business’s stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $103.03, for a total transaction of $1,751,510.00. Following the completion of the sale, the insider now directly owns 46,693 shares of the company’s stock, valued at approximately $4,810,779.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,000 shares of company stock worth $21,506,740. 4.30% of the stock is owned by company insiders.

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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Earnings History for Globe Life (NYSE:GL)

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