Globe Life Inc. (NYSE:GL) Plans Quarterly Dividend of $0.24

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Friday, November 15th,RTT News reports. Investors of record on Wednesday, January 8th will be given a dividend of 0.24 per share on Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.88%.

Globe Life has raised its dividend payment by an average of 6.3% annually over the last three years and has increased its dividend every year for the last 19 years. Globe Life has a payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Globe Life to earn $13.50 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 7.1%.

Globe Life Trading Up 0.2 %

Shares of NYSE GL traded up $0.19 during midday trading on Friday, hitting $109.20. The stock had a trading volume of 451,457 shares, compared to its average volume of 1,528,821. 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 1-year low of $38.95 and a 1-year high of $132.00. The company has a fifty day moving average price of $106.83 and a 200 day moving average price of $94.36. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 9.22 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 earnings per share. On average, analysts predict that Globe Life will post 12.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GL. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Piper Sandler upped their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price for the company. Raymond James boosted their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company raised their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $124.50.

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.