Globe Life (NYSE:GL) Updates FY25 Earnings Guidance

Globe Life (NYSE:GL) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $13.20-13.90 for the period, compared to the consensus earnings per share estimate of $13.25. Globe Life also updated its FY24 guidance to $12.20-12.40 EPS.

Globe Life Price Performance

Globe Life stock traded down $0.21 during mid-day trading on Wednesday, reaching $110.86. The company had a trading volume of 642,265 shares, compared to its average volume of 1,601,209. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a market cap of $9.98 billion, a P/E ratio of 10.60 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $104.60 and a 200 day simple moving average of $90.63.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company earned $2.61 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Globe Life will post 11.93 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore ISI increased their price target on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price target (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Morgan Stanley raised their price objective on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Truist Financial upped their target price on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group raised their price target on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.40.

Insiders Place Their Bets

In other news, Director Mary E. Thigpen bought 3,000 shares of the stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the purchase, the director now directly owns 15,605 shares in the company, valued at $1,407,571. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.51% 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.