Wall Street analysts expect Globe Life Inc. (NYSE:GL) to report $1.13 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Globe Life’s earnings. Globe Life posted sales of $1.08 billion in the same quarter last year, which would indicate a positive year over year growth rate of 4.6%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 4th.
According to Zacks, analysts expect that Globe Life will report full year sales of $4.51 billion for the current fiscal year, with estimates ranging from $4.51 billion to $4.52 billion. For the next financial year, analysts anticipate that the business will report sales of $4.70 billion, with estimates ranging from $4.68 billion to $4.72 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Globe Life.
Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. Globe Life had a return on equity of 11.61% and a net margin of 16.57%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year.
A number of equities research analysts recently commented on the company. raised Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Tuesday, September 3rd. 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 on the stock. UBS Group cut their price target on Globe Life from $85.00 to $84.00 and set a “sell” rating on the stock in a report on Thursday, October 10th. Finally, upgraded Globe Life from a “sell” rating to a “hold” rating in a report on Friday, November 1st.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be issued a $0.172 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.65%. Globe Life’s dividend payout ratio (DPR) is 11.26%.
In related news, Director Darren M. Rebelez sold 5,269 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $101.36, for a total transaction of $534,065.84. Following the sale, the director now owns 23,734 shares in the company, valued at $2,405,678.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bill Leavell sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $98.93, for a total value of $1,978,600.00. Over the last 90 days, insiders sold 132,169 shares of company stock worth $13,086,963. Corporate insiders own 3.64% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY bought a new stake in Globe Life during the third quarter worth about $1,462,000. Millennium Management LLC acquired a new position in Globe Life during the third quarter worth approximately $593,000. Man Group plc acquired a new position in Globe Life during the third quarter worth approximately $15,847,000. Squarepoint Ops LLC acquired a new position in Globe Life during the third quarter worth approximately $1,800,000. Finally, Paradigm Asset Management Co. LLC acquired a new position in Globe Life during the third quarter worth approximately $101,000. Institutional investors and hedge funds own 74.89% of the company’s stock.
About Globe Life
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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