Globe Life Inc. (NYSE:GL) – Investment analysts at Piper Sandler upped their Q3 2021 earnings per share (EPS) estimates for shares of Globe Life in a report issued on Thursday, April 8th. Piper Sandler analyst J. Barnidge now expects that the company will post earnings of $1.90 per share for the quarter, up from their prior estimate of $1.89. Piper Sandler currently has a “Neutral” rating and a $95.00 target price on the stock. Piper Sandler also issued estimates for Globe Life’s Q4 2021 earnings at $1.93 EPS.
Several other brokerages have also commented on GL. JPMorgan Chase & Co. boosted their price target on Globe Life from $99.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, April 5th. Morgan Stanley upped their target price on Globe Life from $95.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, April 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $97.50.
Shares of NYSE:GL opened at $99.41 on Monday. The business’s 50 day simple moving average is $97.78 and its 200-day simple moving average is $92.05. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of 15.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life has a 12 month low of $62.75 and a 12 month high of $102.25. Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, February 1st. The company reported $1.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.02. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.17 billion. Globe Life had a return on equity of 10.28% and a net margin of 15.38%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.70 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Monday, April 5th will be paid a $0.1975 dividend. The ex-dividend date is Thursday, April 1st. This represents a $0.79 dividend on an annualized basis and a yield of 0.79%. This is a positive change from Globe Life’s previous quarterly dividend of $0.19.
In other Globe Life news, CEO Larry M. Hutchison sold 12,000 shares of the business’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $100.42, for a total value of $1,205,040.00. Following the completion of the transaction, the chief executive officer now directly owns 727,112 shares in the company, valued at approximately $73,016,587.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Kendall Carlson sold 18,000 shares of the business’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $100.10, for a total value of $1,801,800.00. Following the completion of the transaction, the insider now owns 3,000 shares of the company’s stock, valued at $300,300. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,150 shares of company stock worth $11,921,669. 3.78% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GL. State of Alaska Department of Revenue increased its holdings in shares of Globe Life by 3.4% during the 4th quarter. State of Alaska Department of Revenue now owns 59,776 shares of the company’s stock worth $5,675,000 after buying an additional 1,958 shares during the last quarter. Pensionfund DSM Netherlands increased its holdings in shares of Globe Life by 30.2% during the 1st quarter. Pensionfund DSM Netherlands now owns 30,200 shares of the company’s stock worth $2,918,000 after buying an additional 7,000 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Globe Life by 20.0% during the 4th quarter. IFM Investors Pty Ltd now owns 10,390 shares of the company’s stock worth $987,000 after buying an additional 1,734 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Globe Life by 6.8% during the 4th quarter. State of Michigan Retirement System now owns 26,658 shares of the company’s stock worth $2,531,000 after buying an additional 1,700 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Globe Life by 4.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 91,193 shares of the company’s stock worth $8,660,000 after buying an additional 4,255 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.
Globe Life Company Profile
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.