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

Globe Life Inc. (NYSE:GL - Get Free Report) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders 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 dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, April 3rd. 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% per year over the last three years and has increased its dividend annually for the last 19 consecutive years. Globe Life has a payout ratio of 6.3% meaning 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 Up 0.6 %

Shares of NYSE:GL traded up $0.75 during midday trading on Monday, reaching $128.18. 619,196 shares of the company were exchanged, compared to its average volume of 593,936. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $131.39. 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 has a fifty day simple moving average of $118.29 and a two-hundred day simple moving average of $110.47. The firm has a market cap of $10.75 billion, a PE ratio of 10.70 and a beta of 0.81.

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Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 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%. As a group, sell-side analysts forecast that Globe Life will post 13.87 earnings per share for the current year.

Insider Transactions at Globe Life

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares of the company's stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction 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 $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,678 shares of company stock worth $8,799,822 in the last ninety days. Insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GL. Jefferies Financial Group raised their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on shares of Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. BMO Capital Markets initiated 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, Keefe, Bruyette & Woods lifted 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. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $135.60.

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.