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

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Thursday, April 3rd will be given a dividend of 0.27 per share on Thursday, May 1st. This represents a $1.08 annualized dividend and a yield of 0.87%. This is a positive change 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 Price Performance

Shares of GL stock traded up $2.33 during trading on Thursday, hitting $124.26. The company had a trading volume of 573,365 shares, compared to its average volume of 584,825. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81. The stock’s 50-day moving average is $117.56 and its two-hundred day moving average is $109.88. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 52 week low of $38.95 and a 52 week high of $129.18.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts predict that Globe Life will post 13.87 EPS for the current fiscal year.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at $4,735,998.96. The trade was a 38.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,678 shares of company stock valued at $8,799,822. 1.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GL has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their target price on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Finally, Morgan Stanley boosted their price target on Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and a consensus price target of $135.50.

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.