Globe Life Inc. (GL) to Issue Quarterly Dividend of $0.24 on January 31st

Globe Life Inc. (NYSE:GL) declared a quarterly dividend on Friday, November 15th,RTT News reports. Investors 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 dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, January 6th.

Globe Life has increased its dividend payment by an average of 6.3% annually over the last three years and has increased its dividend every year for the last 19 years. Globe Life has a payout ratio of 7.1% indicating that 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 Stock Performance

NYSE GL opened at $111.51 on Friday. The business has a 50 day simple moving average of $108.37 and a two-hundred day simple moving average of $100.90. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $9.36 billion, a PE ratio of 9.43 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.71 EPS. On average, research analysts predict that Globe Life will post 12.31 EPS for the current fiscal year.

Insider Activity

In related news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GL. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company upped their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. Finally, Truist Financial lifted their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.10.

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.