Globe Life (NYSE:GL) Updates FY 2020 Earnings Guidance

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Globe Life (NYSE:GL) updated its FY 2020 earnings guidance on Wednesday. The company provided earnings per share guidance of $7.00-7.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.18. Globe Life also updated its FY 2019 guidance to $6.71-6.77 EPS.

Several research firms recently commented on GL. UBS Group cut their price target on Globe Life from $85.00 to $84.00 and set a sell rating for the company in a report on Thursday, October 10th. ValuEngine cut Globe Life from a hold rating to a sell rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Globe Life from a hold rating to a buy rating and set a $99.00 price target for the company in a report on Tuesday, September 3rd. Finally, Credit Suisse Group began coverage on Globe Life in a report on Friday, September 20th. They issued an outperform rating and a $114.00 price target for the company.

Shares of NYSE:GL traded down $0.26 during midday trading on Wednesday, hitting $95.67. The company had a trading volume of 306,938 shares, compared to its average volume of 466,565. Globe Life has a twelve month low of $69.68 and a twelve month high of $96.92. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $10.44 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.87 and a beta of 0.95. The firm’s 50-day moving average is $94.07.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.02. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Globe Life had a return on equity of 12.34% and a net margin of 16.26%. As a group, equities research analysts expect that Globe Life will post 6.73 earnings per share for the current fiscal year.

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 $0.172 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.69 annualized dividend and a yield of 0.72%. Globe Life’s dividend payout ratio (DPR) is 11.26%.

In other Globe Life news, CEO Larry M. Hutchison sold 25,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $92.45, for a total transaction of $2,311,250.00. Following the completion of the sale, the chief executive officer now owns 610,510 shares of the company’s stock, valued at $56,441,649.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vern D. Herbel sold 50,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $92.25, for a total value of $4,612,500.00. Following the sale, the executive vice president now directly owns 50,000 shares of the company’s stock, valued at approximately $4,612,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,820 shares of company stock valued at $9,241,936. 3.64% of the stock is owned by insiders.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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