Globe Life Inc. (NYSE:GL) Declares Quarterly Dividend of $0.27

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders 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 yield of 0.82%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a 12.5% increase from Globe Life’s previous quarterly dividend of $0.24.

Globe Life has raised its dividend by an average of 6.7% annually over the last three years and has raised its dividend annually for the last 20 consecutive years. Globe Life has a dividend payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of Globe Life stock opened at $131.83 on Tuesday. 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 fifty day moving average price is $124.25 and its 200-day moving average price is $114.21. The firm has a market cap of $10.97 billion, a P/E ratio of 11.03 and a beta of 0.77. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.50.

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

Analyst Ratings Changes

GL has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Morgan Stanley raised their price target on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group upped their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.60.

Insider Activity at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the transaction, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,338 shares of company stock valued at $7,239,630. Corporate 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.