Globe Life (NYSE:GL) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Globe Life (NYSE:GL) announced its quarterly earnings results on Wednesday. The company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.02, Zacks reports. Globe Life had a return on equity of 22.91% and a net margin of 19.04%.

Globe Life Price Performance

GL traded up $0.52 on Wednesday, hitting $122.93. 587,098 shares of the company’s stock were exchanged, compared to its average volume of 551,920. The firm has a 50-day moving average price of $112.56 and a 200-day moving average price of $106.41. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 10.40 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 0.50. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were issued a $0.24 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.78%. Globe Life’s payout ratio is currently 8.12%.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,788 shares of company stock valued at $4,429,779. Corporate insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GL shares. Truist Financial lifted their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. BMO Capital Markets began coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Morgan Stanley upped their price objective on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.18.

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.