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

Key Points

• Globe Life Inc. has declared a quarterly dividend of $0.27 per share, with payments scheduled for October 31st to investors who are on record as of October 3rd.
• The company reported earnings of $3.27 per share for the last quarter, surpassing analysts' expectations, and has a low dividend payout ratio of 7.2%, indicating strong earnings coverage for its dividend.
• Insider trading activity has been notable, with CEO James Matthew Darden selling 33,270 shares recently, representing a 40% decrease in his ownership, while insiders collectively sold about 90,741 shares in the past three months.

Globe Life Inc. (NYSE:GL - Get Free Report) declared a quarterly dividend on Thursday, August 7th, RTT News reports. Investors of record on Friday, October 3rd will be paid a dividend of 0.27 per share on Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 0.8%.

Globe Life has a dividend payout ratio of 7.2% meaning its dividend is sufficiently covered by earnings. Equities 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 $1.08 annual dividend with an expected future payout ratio of 7.2%.

Globe Life Stock Down 0.6%

Globe Life stock traded down $0.87 during trading hours on Thursday, hitting $140.36. 709,300 shares of the stock traded hands, compared to its average volume of 658,419. Globe Life has a one year low of $89.13 and a one year high of $144.00. The company has a market cap of $11.59 billion, a PE ratio of 11.22 and a beta of 0.56. The firm's 50-day moving average price is $124.52 and its two-hundred day moving average price is $123.39. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. Globe Life had a net margin of 18.11% and a return on equity of 21.55%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the company posted $2.97 EPS. Globe Life's revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that Globe Life will post 13.87 EPS for the current year.

Insider Buying and Selling at Globe Life

In other news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the transaction, the chief executive officer owned 49,842 shares in the company, valued at $6,758,076.78. This trade represents a 40.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the transaction, the executive vice president directly owned 47,066 shares in the company, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,741 shares of company stock valued at $12,471,180 in the last three months. Company insiders own 1.51% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Global Assets Advisory LLC purchased a new stake in Globe Life during the second quarter worth about $25,000. AdvisorNet Financial Inc lifted its holdings in Globe Life by 60.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock worth $28,000 after buying an additional 84 shares in the last quarter. Assetmark Inc. boosted its position in Globe Life by 777.8% in the 2nd quarter. Assetmark Inc. now owns 237 shares of the company's stock valued at $29,000 after buying an additional 210 shares during the period. TD Private Client Wealth LLC purchased a new position in Globe Life in the 2nd quarter valued at approximately $39,000. Finally, SouthState Corp acquired a new position in shares of Globe Life in the first quarter worth $43,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.

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