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

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Monday, May 6th, RTT News reports. Investors of record on Friday, July 5th will be given a dividend of 0.24 per share on Thursday, August 1st. This represents a $0.96 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, July 5th.

Globe Life has increased its dividend by an average of 6.3% per year over the last three years and has raised its dividend every year for the last 19 years. Globe Life has a dividend payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Globe Life to earn $12.84 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 7.5%.

Globe Life Trading Up 4.2 %

Shares of NYSE:GL opened at $80.84 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The business has a 50 day moving average of $100.90 and a two-hundred day moving average of $113.80. The company has a market capitalization of $7.60 billion, a PE ratio of 7.72 and a beta of 0.78.

Globe Life (NYSE:GL) last released its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $2.53 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts forecast that Globe Life will post 11.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GL. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Truist Financial decreased their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Finally, Wells Fargo & Company dropped their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Insider Activity at Globe Life

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the sale, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Rodriguez bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average price of $79.72 per share, with a total value of $119,580.00. Following the completion of the acquisition, the director now owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company’s stock.

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.