Globe Life Inc. (NYSE:GL) Announces Dividend Increase – $0.27 Per Share

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Investors 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 yield of 0.87%. This is a boost from Globe Life’s previous quarterly dividend of $0.24.

Globe Life has raised its dividend by an average of 6.7% annually 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. 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 1.9 %

Shares of NYSE GL opened at $124.26 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 12-month low of $38.95 and a 12-month high of $129.18. The firm’s 50-day moving average price is $117.93 and its 200-day moving average price is $109.98. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Globe Life will post 13.87 EPS for the current fiscal year.

Insider Activity at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,678 shares of company stock worth $8,799,822. 1.51% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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