Globe Life (NYSE:GL) Issues FY 2024 Earnings Guidance

Globe Life (NYSE:GL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 11.800-12.100 for the period, compared to the consensus estimate of 11.750. The company issued revenue guidance of -.

Globe Life Stock Up 1.8 %

Shares of Globe Life stock traded up $1.61 on Friday, hitting $90.69. The company had a trading volume of 996,958 shares, compared to its average volume of 1,943,938. The stock has a 50-day moving average of $83.50 and a 200-day moving average of $99.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market capitalization of $8.17 billion, a P/E ratio of 8.62 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.90 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.61 EPS. Research analysts predict that Globe Life will post 11.75 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.06%. Globe Life’s dividend payout ratio is presently 9.17%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GL. Truist Financial raised their target price on shares of Globe Life from $80.00 to $90.00 and gave the company a hold rating in a research note on Friday. Jefferies Financial Group increased their price target on Globe Life from $85.00 to $88.00 and gave the company a hold rating in a research note on Friday, June 28th. Evercore ISI raised their price target on Globe Life from $83.00 to $86.00 and gave the company an in-line rating in a report on Wednesday, June 26th. Wells Fargo & Company raised their target price on shares of Globe Life from $105.00 to $108.00 and gave the stock an overweight rating in a research note on Friday. Finally, Morgan Stanley upped their price target on shares of Globe Life from $62.00 to $65.00 and gave the company an equal weight rating in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Globe Life has an average rating of Moderate Buy and a consensus target price of $105.44.

Insider Buying and Selling at Globe Life

In related news, EVP Robert Edward Hensley purchased 2,500 shares of Globe Life stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $82.17 per share, with a total value of $205,425.00. Following the completion of the transaction, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert Edward Hensley purchased 2,500 shares of Globe Life stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the transaction, the executive vice president now owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Peter Kalmbach acquired 500 shares of the stock in a transaction on Friday, May 17th. The shares were purchased at an average price of $84.43 per share, with a total value of $42,215.00. Following the completion of the transaction, the chief financial officer now owns 18,080 shares of the company’s stock, valued at $1,526,494.40. The disclosure for this purchase can be found here. Insiders acquired 5,000 shares of company stock valued at $417,280 in the last quarter. Company insiders own 1.51% 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- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.