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

Globe Life (NYSE:GL) posted its earnings results on Tuesday. The company reported $1.85 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 business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis.

Shares of NYSE GL traded down $0.79 during midday trading on Thursday, reaching $93.06. The company had a trading volume of 17,841 shares, compared to its average volume of 433,563. Globe Life has a one year low of $74.44 and a one year 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 company’s fifty day simple moving average is $99.92. The company has a market cap of $9.59 billion, a PE ratio of 13.39 and a beta of 1.14.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Stockholders 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 dividend yield of 0.85%. The ex-dividend date is Thursday, July 1st.

Several research firms recently commented on GL. JPMorgan Chase & Co. boosted their target price on Globe Life from $99.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, April 5th. Zacks Investment Research cut Globe Life from a “hold” rating to a “sell” rating in a research report on Friday, July 9th. Morgan Stanley boosted their target price on Globe Life from $100.00 to $105.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 19th. Credit Suisse Group lifted their price target on Globe Life from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, June 7th. Finally, Piper Sandler dropped their price target on Globe Life from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, July 8th. They noted that the move was a valuation call. Two 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $105.80.

In other news, CEO Gary L. Coleman sold 24,000 shares of the business’s stock in a transaction dated Wednesday, June 2nd. The stock was sold at an average price of $105.59, for a total value of $2,534,160.00. Also, 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 transaction, the insider now 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 three months, insiders sold 205,000 shares of company stock valued at $21,506,740. 4.30% of the stock is currently owned by corporate insiders.

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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