Globe Life (NYSE:GL) Issues Quarterly Earnings Results

Globe Life (NYSE:GL) issued its quarterly earnings data on Wednesday. The company reported $1.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.75, MarketWatch Earnings reports. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Globe Life had a return on equity of 10.31% and a net margin of 15.84%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 earnings per share. Globe Life updated its FY20 guidance to $6.84-7.00 EPS.

Shares of GL stock opened at $84.13 on Thursday. Globe Life has a 1 year low of $56.74 and a 1 year high of $111.43. The firm’s 50 day moving average is $81.60 and its 200-day moving average is $78.41. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 12.65 and a beta of 1.09. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a $0.1875 dividend. The ex-dividend date is Friday, October 2nd. This represents a $0.75 dividend on an annualized basis and a yield of 0.89%. Globe Life’s payout ratio is currently 11.11%.

GL has been the subject of several research reports. Credit Suisse Group reissued a “buy” rating on shares of Globe Life in a report on Wednesday, August 12th. Zacks Investment Research lowered Globe Life from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Monday, September 14th. Morgan Stanley increased their price target on Globe Life from $84.00 to $86.00 and gave the stock an “underweight” rating in a research note on Thursday. TheStreet upgraded Globe Life from a “c+” rating to a “b-” rating in a report on Wednesday, August 19th. Finally, Piper Sandler lowered their price target on Globe Life from $87.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $82.40.

In other Globe Life news, CEO Larry M. Hutchison sold 13,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $79.09, for a total value of $1,028,170.00. Following the completion of the sale, the chief executive officer now owns 678,200 shares in the company, valued at $53,638,838. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP W Michael Pressley sold 60,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $84.66, for a total transaction of $5,079,600.00. Over the last three months, insiders have sold 127,050 shares of company stock valued at $10,557,063. 3.78% of the stock is currently owned by 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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