Globe Life Inc. Declares Quarterly Dividend of $0.23 (NYSE:GL)

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Tuesday, November 14th, RTT News reports. Investors of record on Friday, January 5th will be paid a dividend of 0.225 per share on Thursday, February 1st. This represents a $0.90 dividend on an annualized basis and a yield of 0.76%.

Globe Life has increased its dividend by an average of 52.2% annually over the last three years and has raised its dividend every year for the last 18 years. Globe Life has a dividend payout ratio of 7.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Globe Life to earn $11.44 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 7.9%.

Globe Life Stock Up 1.2 %

GL opened at $118.29 on Wednesday. Globe Life has a one year low of $102.23 and a one year high of $123.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market capitalization of $11.13 billion, a P/E ratio of 12.66 and a beta of 0.78. The business’s 50-day simple moving average is $112.29 and its 200-day simple moving average is $110.70.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 25th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.65 by $0.06. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. Globe Life had a return on equity of 22.60% and a net margin of 16.95%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.15 earnings per share. Analysts anticipate that Globe Life will post 10.6 EPS for the current year.

Insider Buying and Selling

In other news, CAO Michael Shane Henrie sold 1,325 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $111.20, for a total value of $147,340.00. Following the completion of the transaction, the chief accounting officer now owns 700 shares in the company, valued at $77,840. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Globe Life news, EVP Robert Brian Mitchell sold 16,217 shares of Globe Life stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $111.97, for a total transaction of $1,815,817.49. Following the completion of the transaction, the executive vice president now owns 36,635 shares in the company, valued at $4,102,020.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael Shane Henrie sold 1,325 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $111.20, for a total transaction of $147,340.00. Following the completion of the sale, the chief accounting officer now owns 700 shares in the company, valued at $77,840. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,093 shares of company stock valued at $5,840,403. 4.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Globe Life

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ExodusPoint Capital Management LP acquired a new position in shares of Globe Life in the second quarter worth $238,000. Vontobel Holding Ltd. acquired a new stake in shares of Globe Life during the 1st quarter worth about $236,000. Echo Street Capital Management LLC purchased a new stake in shares of Globe Life during the fourth quarter worth about $234,000. GTS Securities LLC acquired a new position in shares of Globe Life in the second quarter valued at approximately $232,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Globe Life in the first quarter valued at approximately $229,000. Hedge funds and other institutional investors own 80.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GL. Jefferies Financial Group raised their price target on Globe Life from $115.00 to $118.00 and gave the stock a “hold” rating in a report on Thursday, September 14th. Wells Fargo & Company upgraded shares of Globe Life from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $122.00 to $137.00 in a research report on Tuesday, October 31st. JPMorgan Chase & Co. increased their target price on Globe Life from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, October 6th. StockNews.com assumed coverage on Globe Life in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Raymond James raised their target price on Globe Life from $138.00 to $160.00 and gave the company a “strong-buy” rating in a report on Monday, October 23rd. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.25.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.