Globe Life Inc. (NYSE:GL) Announces Quarterly Dividend of $0.24

Globe Life Inc. (NYSE:GL) declared a quarterly dividend on Friday, November 15th,RTT News reports. Shareholders of record on Monday, January 6th will be paid a dividend of 0.24 per share on Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, January 6th.

Globe Life has raised its dividend by an average of 6.3% per year over the last three years and has increased its dividend every year for the last 19 years. Globe Life has a dividend payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Globe Life to earn $13.53 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 7.1%.

Globe Life Price Performance

Globe Life stock opened at $111.51 on Friday. The company has a fifty day simple moving average of $108.37 and a 200-day simple moving average of $100.90. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 9.43 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $2.71 EPS. Globe Life’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Globe Life will post 12.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GL shares. Morgan Stanley increased their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Raymond James lifted their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. TD Cowen started coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Truist Financial boosted their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $127.10.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now owns 16,396 shares in the company, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.51% of the company’s stock.

Globe Life Company Profile

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