Globe Life Inc. (NYSE:GL) Raises Dividend to $0.27 Per Share

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 0.87%. This is an increase from Globe Life’s previous quarterly dividend of $0.24.

Globe Life has raised its dividend payment by an average of 6.7% annually over the last three years and has increased its dividend annually for the last 19 consecutive years. Globe Life has a dividend payout ratio of 6.3% 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 $0.96 annual dividend with an expected future payout ratio of 6.4%.

Globe Life Stock Up 1.9 %

Shares of NYSE GL traded up $2.33 during midday trading on Thursday, reaching $124.26. 573,365 shares of the company’s stock traded hands, compared to its average volume of 584,825. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $117.56 and its 200-day simple moving average is $109.88. Globe Life has a one year low of $38.95 and a one year high of $129.18. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81.

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

Insider Activity at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,678 shares of company stock worth $8,799,822. Corporate insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

GL has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price target 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. BMO Capital Markets assumed coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Finally, Jefferies Financial Group boosted their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Five equities research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $135.50.

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.