Globe Life (GL) to Release Earnings on Monday

Globe Life (NYSE:GL) will be releasing its earnings data after the market closes on Monday, April 22nd. Analysts expect Globe Life to post 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.Persons interested in listening to the company’s earnings conference call can do so using this link.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.15. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.24 EPS. 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 Stock Up 2.7 %

Shares of Globe Life stock opened at $66.74 on Friday. The stock has a 50-day moving average price of $111.78 and a 200 day moving average price of $116.60. The company has a market cap of $6.28 billion, a P/E ratio of 6.62 and a beta of 0.69. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.24 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.44%. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio is currently 9.52%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GL shares. Keefe, Bruyette & Woods reduced their price objective on Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday. Truist Financial reaffirmed a “hold” rating and set a $125.00 price target on shares of Globe Life in a research note on Friday, April 12th. 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. Finally, JPMorgan Chase & Co. raised 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. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus target price of $126.44.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GL. JPMorgan Chase & Co. raised its stake in shares of Globe Life by 7.2% in the 1st quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock valued at $9,448,000 after acquiring an additional 6,299 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Globe Life by 3.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock valued at $1,464,000 after buying an additional 538 shares during the last quarter. American Century Companies Inc. grew its holdings in Globe Life by 26.8% in the 1st quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock valued at $1,354,000 after buying an additional 2,848 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in Globe Life by 3.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock valued at $477,000 after buying an additional 137 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Globe Life by 23.9% in the 1st quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock valued at $2,557,000 after buying an additional 4,897 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

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.