FY2024 EPS Estimates for Globe Life Inc. Lowered by Analyst (NYSE:GL)

Globe Life Inc. (NYSE:GLGet Rating) – Equities research analysts at Jefferies Financial Group lowered their FY2024 earnings per share (EPS) estimates for shares of Globe Life in a research note issued to investors on Tuesday, January 17th. Jefferies Financial Group analyst D. Bergman now anticipates that the company will post earnings per share of $10.15 for the year, down from their prior forecast of $10.20. The consensus estimate for Globe Life’s current full-year earnings is $8.09 per share. Jefferies Financial Group also issued estimates for Globe Life’s FY2025 earnings at $11.00 EPS and FY2026 earnings at $11.95 EPS.

Other equities research analysts have also issued research reports about the company. StockNews.com started coverage on Globe Life in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Truist Financial raised their target price on Globe Life from $100.00 to $112.00 and gave the stock a “hold” rating in a research report on Friday, October 28th. Piper Sandler raised their target price on Globe Life from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 20th. Morgan Stanley raised their target price on Globe Life from $115.00 to $132.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 10th. Finally, Credit Suisse Group raised their target price on Globe Life from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $120.11.

Globe Life Price Performance

GL stock opened at $117.42 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $11.42 billion, a P/E ratio of 16.56 and a beta of 0.82. The business’s 50-day moving average is $118.37 and its two-hundred day moving average is $108.78. Globe Life has a 1 year low of $87.87 and a 1 year high of $123.85.

Globe Life (NYSE:GLGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.04. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Globe Life had a return on equity of 12.02% and a net margin of 13.61%.

Institutional Trading of Globe Life

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in Globe Life by 37.0% in the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after purchasing an additional 1,973,186 shares during the last quarter. Invesco Ltd. increased its stake in Globe Life by 36.3% in the first quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock valued at $191,981,000 after purchasing an additional 508,064 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Globe Life in the third quarter valued at $41,659,000. Parsifal Capital Management LP increased its stake in Globe Life by 92.0% in the second quarter. Parsifal Capital Management LP now owns 836,400 shares of the company’s stock valued at $81,524,000 after purchasing an additional 400,753 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in Globe Life by 89.0% in the third quarter. Ensign Peak Advisors Inc now owns 765,718 shares of the company’s stock valued at $76,341,000 after purchasing an additional 360,540 shares during the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Larry M. Hutchison sold 12,000 shares of Globe Life stock in a transaction that occurred on Friday, December 30th. The stock was sold at an average price of $102.98, for a total value of $1,235,760.00. Following the transaction, the chief executive officer now directly owns 730,792 shares in the company, valued at approximately $75,256,960.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Globe Life news, CEO Larry M. Hutchison sold 12,000 shares of Globe Life stock in a transaction that occurred on Friday, December 30th. The stock was sold at an average price of $102.98, for a total value of $1,235,760.00. Following the transaction, the chief executive officer now directly owns 730,792 shares in the company, valued at approximately $75,256,960.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth J. Matson sold 2,573 shares of Globe Life stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $116.17, for a total value of $298,905.41. Following the completion of the transaction, the insider now owns 29,153 shares in the company, valued at $3,386,704.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,571 shares of company stock worth $12,563,268. 4.62% of the stock is currently owned by insiders.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 6th will be given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, January 5th. Globe Life’s dividend payout ratio (DPR) is 11.71%.

About Globe Life

(Get Rating)

Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.

See Also

Earnings History and Estimates for Globe Life (NYSE:GL)

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