Globe Life (NYSE:GL) Announces Quarterly Earnings Results

Globe Life (NYSE:GL) posted its quarterly earnings results on Wednesday. The company reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.05), Zacks reports. Globe Life had a return on equity of 21.81% and a net margin of 19.36%.

Globe Life Stock Performance

Shares of GL traded up $1.14 during mid-day trading on Wednesday, hitting $144.79. The company’s stock had a trading volume of 797,367 shares, compared to its average volume of 529,822. The stock’s 50-day moving average is $138.70 and its two-hundred day moving average is $137.68. The firm has a market capitalization of $11.53 billion, a PE ratio of 10.49 and a beta of 0.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life has a one year low of $109.38 and a one year high of $147.83.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Monday, January 5th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, January 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.7%. Globe Life’s payout ratio is 7.83%.

Analysts Set New Price Targets

GL has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Globe Life from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, January 14th. Evercore ISI cut Globe Life from an “outperform” rating to an “in-line” rating and set a $155.00 price target for the company. in a research report on Tuesday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $167.00 price target on shares of Globe Life in a research note on Friday, November 21st. Truist Financial raised their price objective on Globe Life from $150.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, TD Cowen restated a “buy” rating on shares of Globe Life in a report on Thursday, December 11th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $166.22.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 9,379 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $140.43, for a total transaction of $1,317,092.97. Following the transaction, the chief executive officer owned 35,868 shares in the company, valued at approximately $5,036,943.24. The trade was a 20.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globe Life

A number of institutional investors have recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in Globe Life during the second quarter valued at about $28,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life in the 2nd quarter worth approximately $31,000. Banque Cantonale Vaudoise acquired a new stake in shares of Globe Life during the 3rd quarter worth approximately $50,000. Advisory Services Network LLC bought a new stake in shares of Globe Life during the third quarter valued at approximately $72,000. Finally, Johnson Financial Group Inc. increased its position in shares of Globe Life by 272.6% during the third quarter. Johnson Financial Group Inc. now owns 734 shares of the company’s stock valued at $105,000 after purchasing an additional 537 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

About Globe Life

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.