Jefferies Financial Group Analysts Decrease Earnings Estimates for Globe Life Inc. (NYSE:GL)

Globe Life Inc. (NYSE:GLGet Rating) – Stock analysts at Jefferies Financial Group decreased their Q4 2022 earnings per share estimates for shares of Globe Life in a note issued to investors on Wednesday, September 7th. Jefferies Financial Group analyst D. Bergman now expects that the company will post earnings per share of $2.14 for the quarter, down from their prior estimate of $2.16. Jefferies Financial Group also issued estimates for Globe Life’s Q1 2023 earnings at $2.21 EPS, Q2 2023 earnings at $2.29 EPS and Q4 2023 earnings at $2.39 EPS.

Globe Life (NYSE:GLGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.03. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.33 billion. Globe Life had a return on equity of 9.90% and a net margin of 13.68%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price target on Globe Life from $108.00 to $112.00 in a report on Monday, July 11th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the company from $105.00 to $112.00 in a research note on Wednesday, June 15th. Piper Sandler upped their price objective on Globe Life from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, July 8th. Finally, Morgan Stanley increased their price target on Globe Life from $109.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, August 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $110.86.

Globe Life Stock Up 1.8 %

GL stock opened at $102.75 on Friday. The stock has a market capitalization of $10.01 billion, a P/E ratio of 14.62 and a beta of 0.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.06 and a quick ratio of 0.06. Globe Life has a 1-year low of $85.25 and a 1-year high of $108.61. The business has a fifty day moving average price of $99.89 and a 200-day moving average price of $98.94.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, October 6th. Globe Life’s dividend payout ratio is currently 11.81%.

Insider Transactions at Globe Life

In related news, insider Kenneth J. Matson sold 25,000 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $103.55, for a total transaction of $2,588,750.00. Following the completion of the transaction, the insider now owns 31,726 shares in the company, valued at $3,285,227.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Michael Shane Henrie sold 14,150 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $104.30, for a total transaction of $1,475,845.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth J. Matson sold 25,000 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $103.55, for a total transaction of $2,588,750.00. Following the transaction, the insider now directly owns 31,726 shares of the company’s stock, valued at $3,285,227.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,950 shares of company stock valued at $5,476,207. 4.62% of the stock is currently owned by company insiders.

Institutional Trading of Globe Life

Large investors have recently modified their holdings of the business. Ascent Group LLC purchased a new stake in Globe Life during the 4th quarter worth $225,000. Westpac Banking Corp raised its holdings in shares of Globe Life by 60,684.5% during the first quarter. Westpac Banking Corp now owns 187,824 shares of the company’s stock valued at $18,895,000 after acquiring an additional 187,515 shares during the period. Prospector Partners LLC grew its position in Globe Life by 4.9% during the fourth quarter. Prospector Partners LLC now owns 230,410 shares of the company’s stock valued at $21,594,000 after purchasing an additional 10,850 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Globe Life by 32.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,181 shares of the company’s stock valued at $5,048,000 after purchasing an additional 12,226 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its position in Globe Life by 9.2% in the first quarter. Aptus Capital Advisors LLC now owns 15,894 shares of the company’s stock worth $1,599,000 after acquiring an additional 1,345 shares in the last quarter. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Company Profile

(Get Rating)

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.

Further Reading

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

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