Globe Life Inc. (GL) To Go Ex-Dividend on April 3rd

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Thursday, April 3rd will be paid a dividend of 0.27 per share on Thursday, May 1st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Thursday, April 3rd. This is a 12.5% increase from Globe Life’s previous quarterly dividend of $0.24.

Globe Life has increased its dividend by an average of 6.7% per year over the last three years and has raised its dividend annually for the last 20 consecutive years. Globe Life has a payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Globe Life to earn $15.03 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 7.2%.

Globe Life Stock Up 1.6 %

Shares of NYSE:GL opened at $131.83 on Tuesday. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.50. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average price is $124.25 and its 200-day moving average price is $114.21. The stock has a market capitalization of $10.97 billion, a P/E ratio of 11.03 and a beta of 0.77.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, equities analysts anticipate that Globe Life will post 13.87 earnings per share for the current year.

Insider Buying and Selling at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock valued at $7,239,630 in the last 90 days. Insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on GL shares. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Jefferies Financial Group increased their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their price target on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company increased their price objective on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

About Globe Life

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.