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

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Friday, November 15th,RTT News reports. Stockholders of record on Wednesday, January 8th will be paid a dividend of 0.24 per share on Friday, January 31st. This represents a $0.96 dividend on an annualized basis 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 dividend payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE:GL traded up $0.19 during midday trading on Friday, reaching $109.20. The stock had a trading volume of 451,457 shares, compared to its average volume of 1,528,821. The stock has a market capitalization of $9.17 billion, a P/E ratio of 9.22 and a beta of 0.81. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm’s fifty day simple moving average is $106.83 and its 200-day simple moving average is $94.36.

Globe Life (NYSE:GL) last posted 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. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted $2.71 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Globe Life will post 12.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GL has been the subject of several research reports. Morgan Stanley increased their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Piper Sandler increased their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company upped their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, TD Cowen assumed coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.