Globe Life Inc. (GL) To Go Ex-Dividend on October 4th

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Thursday, August 8th, RTT News reports. Investors of record on Friday, October 4th will be paid a dividend of 0.24 per share on Friday, November 1st. This represents a $0.96 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, October 4th.

Globe Life has raised its dividend by an average of 6.3% per year over the last three years and has increased its dividend every year for the last 19 years. Globe Life has a payout ratio of 7.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Globe Life to earn $13.20 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 7.3%.

Globe Life Stock Performance

NYSE:GL opened at $103.71 on Wednesday. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 9.91 and a beta of 0.81. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a fifty day moving average price of $99.59 and a 200-day moving average price of $91.37.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the company posted $2.61 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Globe Life will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary E. Thigpen purchased 3,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the purchase, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial boosted their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Evercore ISI upped their price objective on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Piper Sandler lifted their target price on Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their target price on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company lifted their price target on shares of Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.33.

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.