Invest2Growcom
Oct 23, 2:42 PM
$GL GL is down about 6.34 percent, near 157.74, after Globe Life trimmed its 2026 outlook with its Q3 report.
Net operating EPS came in at 4.84, slightly under the roughly 4.91 analysts expected. The bigger issue was guidance, which was lowered to 15.35 to 15.65 from 15.55 to 15.95. Management blamed two items at its United American division, high claims at Evry, a young group health business, and a claims processing delay at the Centers for Medicare and Medicaid Services that caused extra Medicare Supplement claims. It says the core business hasn't fundamentally changed.
There are positives. Premium revenue grew 7 percent, book value per share excluding AOCI rose 11 percent, and the company raised its 2026 buyback plan to 725 to 775 million dollars. It bought shares last quarter at an average of about 175.61, well above today's price.
TD Cowen kept a Buy and cut its target to 215 from 225.
Follow me for more on the insurance names.
0 replies
