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 given a dividend of 0.24 per share on Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.88%.

Globe Life has increased its dividend payment by an average of 6.3% per year over the last three years and has increased its dividend every year for the last 19 years. Globe Life has a 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 Up 0.2 %

Shares of GL stock opened at $109.20 on Friday. The stock’s 50 day simple moving average is $106.97 and its 200 day simple moving average is $94.58. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 9.24 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. As a group, research analysts predict that Globe Life will post 12.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler upped their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Raymond James boosted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company increased their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley lifted their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Truist Financial lifted their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target 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.