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

Globe Life (NYSE:GL) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Raymond James boosted their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price for the company. Morgan Stanley lifted their price target on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Finally, 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 report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.40.

Globe Life Stock Down 0.2 %

Globe Life stock traded down $0.21 during mid-day trading on Wednesday, reaching $110.86. The stock had a trading volume of 640,291 shares, compared to its average volume of 1,601,265. Globe Life has a one year low of $38.95 and a one year high of $132.00. The company has a 50-day moving average price of $104.60 and a two-hundred day moving average price of $90.63. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 10.60 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05.

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

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.87%. Globe Life’s dividend payout ratio is 9.17%.

Insider Transactions at Globe Life

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