Globe Life (NYSE:GL) Updates FY 2024 Earnings Guidance

Globe Life (NYSE:GL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 12.200-12.400 for the period, compared to the consensus earnings per share estimate of 11.940. The company issued revenue guidance of -. Globe Life also updated its FY 2025 guidance to 13.200-13.900 EPS.

Globe Life Stock Down 1.3 %

Shares of GL stock traded down $1.47 during midday trading on Thursday, reaching $109.39. 1,240,694 shares of the stock were exchanged, compared to its average volume of 1,599,529. 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 $9.85 billion, a PE ratio of 10.77 and a beta of 0.81. The company’s 50 day moving average is $104.94 and its two-hundred day moving average is $90.77. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 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 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.61 earnings per share. On average, equities research analysts predict that Globe Life will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given 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 yield of 0.88%. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GL. Raymond James raised their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Piper Sandler lifted their price objective on Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley increased their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday. Truist Financial lifted their price target on Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 price objective (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.10.

Insider Transactions at Globe Life

In other news, Director Mary E. Thigpen acquired 3,000 shares of Globe Life stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the transaction, the director now owns 15,605 shares in the company, valued at $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.51% of the company’s stock.

Globe Life Company Profile

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.