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

Globe Life Inc. (NYSE:GL) declared 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 0.85%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24.

Globe Life has increased its dividend by an average of 6.7% annually over the last three years and has raised its dividend annually for the last 19 consecutive years. Globe Life has a payout ratio of 6.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Globe Life to earn $15.03 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 6.4%.

Globe Life Stock Performance

Globe Life stock opened at $127.69 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $10.72 billion, a PE ratio of 10.68 and a beta of 0.81. The company has a 50 day moving average price of $118.29 and a 200-day moving average price of $110.23. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $129.05.

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

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life 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 sale, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,678 shares of company stock valued at $8,799,822. 1.51% of the stock is currently owned by insiders.

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.