Globe Life (GL) Scheduled to Post Earnings on Monday

Globe Life (NYSE:GL) will be announcing its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce 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.

Globe Life (NYSE:GL) last posted its quarterly earnings results 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. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm posted $2.24 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. 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 Performance

NYSE GL opened at $59.09 on Monday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $117.86 and its two-hundred day moving average price is $118.30. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The firm has a market capitalization of $5.56 billion, a P/E ratio of 5.86 and a beta of 0.69.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.24 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is 9.52%.

Hedge Funds Weigh In On Globe Life

Several institutional investors and hedge funds have recently modified their holdings of GL. Sunbelt Securities Inc. acquired a new position in shares of Globe Life in the first quarter valued at about $29,000. AM Squared Ltd acquired a new position in shares of Globe Life in the first quarter valued at about $44,000. First Horizon Advisors Inc. grew its stake in shares of Globe Life by 28.3% in the first quarter. First Horizon Advisors Inc. now owns 617 shares of the company’s stock valued at $68,000 after acquiring an additional 136 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in Globe Life during the second quarter worth about $77,000. Finally, Salem Investment Counselors Inc. bought a new stake in Globe Life during the fourth quarter worth about $88,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler dropped their price target on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. Wells Fargo & Company dropped their price target on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods decreased their price objective on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, April 10th. Truist Financial reiterated a “hold” rating and issued a $125.00 price objective on shares of Globe Life in a report on Friday. Finally, Evercore ISI decreased their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.44.

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.