Globe Life (NYSE:GL – Get Free Report) 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 – Get Free Report) 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
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.
Read Our Latest Stock Report on Globe Life
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.
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