Globe Life (NYSE:GL) Issues Quarterly Earnings Results

Globe Life (NYSE:GL) posted its quarterly earnings results on Tuesday. The company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.03, MarketWatch Earnings reports. Globe Life had a net margin of 15.29% and a return on equity of 8.69%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis.

GL stock traded down $0.79 during trading on Thursday, hitting $93.06. 17,841 shares of the company’s stock traded hands, compared to its average volume of 433,563. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 13.39 and a beta of 1.14. The stock’s fifty day moving average price is $99.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.06 and a quick ratio of 0.06. Globe Life has a 1 year low of $74.44 and a 1 year high of $108.22.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Monday, July 5th will be issued a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, July 1st.

In other Globe Life news, insider Kenneth J. Matson sold 17,000 shares of Globe Life stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $103.03, for a total value of $1,751,510.00. Following the transaction, the insider now directly owns 46,693 shares of the company’s stock, valued at $4,810,779.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Larry M. Hutchison sold 12,000 shares of Globe Life stock in a transaction on Monday, April 26th. The stock was sold at an average price of $103.22, for a total transaction of $1,238,640.00. Following the completion of the transaction, the chief executive officer now directly owns 727,112 shares in the company, valued at $75,052,500.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,000 shares of company stock worth $21,506,740. 4.30% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on GL. Piper Sandler decreased their price target on shares of 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. Credit Suisse Group lifted their price target on shares of Globe Life from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, June 7th. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $99.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, April 5th. Zacks Investment Research downgraded shares of Globe Life from a “hold” rating to a “sell” rating in a research note on Friday, July 9th. Finally, Morgan Stanley lifted their price target on shares of Globe Life from $100.00 to $105.00 and gave the company an “underweight” rating in a research note on Wednesday, May 19th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $105.80.

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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