Globe Life (NYSE:GL) Announces Earnings Results

Globe Life (NYSE:GL) announced its quarterly earnings results on Wednesday. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43, Yahoo Finance reports. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 EPS.

Globe Life Price Performance

Shares of GL traded down $4.74 during mid-day trading on Friday, hitting $104.65. The company’s stock had a trading volume of 632,206 shares, compared to its average volume of 1,594,859. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 9.48 and a beta of 0.81. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a 50-day moving average price of $105.21 and a 200 day moving average price of $90.90.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Globe Life’s dividend payout ratio is presently 8.68%.

Analyst Upgrades and Downgrades

GL has been the topic of a number of analyst reports. Truist Financial lifted their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday. Piper Sandler raised their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James increased their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

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.