Globe Life (GL) to Release Quarterly Earnings on Monday

Globe Life (NYSE:GL) is scheduled to be announcing its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $2.80 per share for the quarter. Globe Life has set its FY24 guidance at $11.30-$11.80 EPS and its FY 2024 guidance at 11.300-11.800 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm earned $2.24 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts expect Globe Life to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Globe Life Price Performance

NYSE GL opened at $66.74 on Friday. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The firm has a market capitalization of $6.28 billion, a P/E ratio of 6.62 and a beta of 0.69. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $111.78 and a 200-day moving average price of $116.54.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.44%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is presently 9.52%.

Institutional Trading of Globe Life

Several hedge funds have recently modified their holdings of GL. JPMorgan Chase & Co. raised its holdings in Globe Life by 7.2% during the 1st quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock valued at $9,448,000 after buying an additional 6,299 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Globe Life by 3.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock worth $1,464,000 after purchasing an additional 538 shares during the period. American Century Companies Inc. boosted its stake in shares of Globe Life by 26.8% during the 1st quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock worth $1,354,000 after purchasing an additional 2,848 shares during the period. Cetera Advisor Networks LLC boosted its stake in shares of Globe Life by 3.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock worth $477,000 after purchasing an additional 137 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Globe Life by 23.9% during the 1st quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock worth $2,557,000 after purchasing an additional 4,897 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GL shares. Keefe, Bruyette & Woods reduced their price target on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company cut their price objective on Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. StockNews.com upgraded Globe Life from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Evercore ISI cut their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Finally, Truist Financial reiterated a “hold” rating and set a $125.00 price objective on shares of Globe Life in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $126.44.

About Globe Life

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