Globe Life (GL) to Release Quarterly Earnings on Monday

Globe Life (NYSE:GL) will be announcing its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $2.80 per share for the quarter. Globe Life has set its FY24 guidance at $11.30-$11.80 EPS and its FY 2024 guidance at 11.300-11.800 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm posted $2.24 EPS. Globe Life’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts expect Globe Life to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Globe Life Trading Up 2.7 %

Shares of Globe Life stock opened at $66.74 on Friday. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The firm has a market cap of $6.28 billion, a PE ratio of 6.62 and a beta of 0.69. The stock has a fifty day moving average price of $111.78 and a 200-day moving average price of $116.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.44%. Globe Life’s dividend payout ratio (DPR) is currently 9.52%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GL. Wells Fargo & Company cut their price target on Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their price target on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Truist Financial reaffirmed a “hold” rating and set a $125.00 target price on shares of Globe Life in a report on Friday, April 12th. Evercore ISI reduced their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods reduced their target price on Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.44.

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Globe Life by 37.0% in the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after purchasing an additional 1,973,186 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Globe Life by 0.9% during the first quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock valued at $655,963,000 after acquiring an additional 57,587 shares in the last quarter. State Street Corp raised its holdings in shares of Globe Life by 2.2% during the second quarter. State Street Corp now owns 3,960,623 shares of the company’s stock valued at $434,163,000 after acquiring an additional 84,122 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Globe Life by 18.2% during the first quarter. JPMorgan Chase & Co. now owns 2,678,038 shares of the company’s stock valued at $294,639,000 after acquiring an additional 412,639 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Globe Life by 5.0% during the first quarter. Geode Capital Management LLC now owns 2,001,415 shares of the company’s stock valued at $219,725,000 after acquiring an additional 95,991 shares in the last quarter. Institutional investors own 81.61% 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.