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

Globe Life Inc. (NYSE:GL) 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 annualized dividend and a dividend yield of 0.87%. This is a boost from Globe Life’s previous quarterly dividend of $0.24.

Globe Life has increased its dividend payment by an average of 6.7% per year over the last three years and has raised its dividend annually for the last 19 consecutive years. Globe Life has a dividend payout ratio of 6.3% meaning 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 Trading Up 1.9 %

Shares of NYSE GL opened at $124.26 on Friday. The stock has a fifty day simple moving average of $117.93 and a 200-day simple moving average of $109.98. Globe Life has a twelve month low of $38.95 and a twelve month high of $129.18. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $10.43 billion, a PE ratio of 10.40 and a beta of 0.81.

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

Insider Transactions at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares in the company, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,678 shares of company stock valued at $8,799,822 in the last ninety days. 1.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GL has been the subject of several analyst reports. Jefferies Financial Group boosted their price target 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. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. 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 report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley raised 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 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Globe Life currently 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.