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

Globe Life Inc. (NYSE:GL - Get Free Report) announced a quarterly dividend on Monday, May 6th, RTT News reports. Shareholders of record on Friday, July 5th will be given a dividend of 0.24 per share on Thursday, August 1st. This represents a $0.96 dividend on an annualized basis and a yield of 1.19%.

Globe Life has increased its dividend by an average of 6.3% annually over the last three years and has raised its dividend annually for the last 19 consecutive years. Globe Life has a payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Globe Life to earn $12.84 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 7.5%.

Globe Life Stock Performance

GL stock traded up $3.29 during mid-day trading on Monday, reaching $80.84. The company had a trading volume of 2,315,129 shares, compared to its average volume of 2,196,489. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $7.60 billion, a P/E ratio of 7.73 and a beta of 0.78. Globe Life has a one year low of $38.95 and a one year high of $132.00. The stock's 50-day simple moving average is $101.82 and its two-hundred day simple moving average is $114.04.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 earnings per share. Research analysts anticipate that Globe Life will post 11.72 EPS for the current year.

Analyst Upgrades and Downgrades

GL has been the topic of a number of research analyst reports. StockNews.com lowered Globe Life from a "buy" rating to a "hold" rating in a report on Saturday, April 20th. Evercore ISI lowered their price target on Globe Life from $125.00 to $75.00 and set an "in-line" rating on the stock in a report on Friday, April 12th. Piper Sandler lowered their price target on Globe Life from $130.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, April 24th. Wells Fargo & Company lowered their price target on Globe Life from $132.00 to $108.00 and set an "overweight" rating on the stock in a report on Wednesday, April 24th. Finally, Truist Financial lowered their price target on Globe Life from $125.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Globe Life presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.33.

Insider Activity at Globe Life

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the business's stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Rodriguez purchased 1,500 shares of the stock in a transaction dated Wednesday, April 24th. The shares were acquired at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the acquisition, the director now directly owns 4,192 shares of the company's stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. 1.51% of the stock is currently owned by corporate insiders.

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.