Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Friday, May 15th, RTT News reports. Investors of record on Monday, July 6th will be paid a dividend of 0.1875 per share on Friday, July 31st. This represents a $0.75 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, July 2nd.
Globe Life has decreased its dividend payment by an average of 82.3% annually over the last three years. Globe Life has a dividend payout ratio of 10.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Globe Life to earn $7.28 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 10.3%.
Shares of NYSE GL opened at $70.85 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $7.54 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. Globe Life has a 1 year low of $56.74 and a 1 year high of $111.43. The firm’s 50 day moving average price is $75.86 and its 200 day moving average price is $87.90.
Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. Globe Life had a net margin of 16.32% and a return on equity of 10.86%. Globe Life’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 earnings per share. As a group, equities analysts predict that Globe Life will post 6.93 EPS for the current year.
A number of research firms have weighed in on GL. Morgan Stanley cut their price target on shares of Globe Life from $73.00 to $72.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. ValuEngine downgraded shares of Globe Life from a “hold” rating to a “sell” rating in a research note on Thursday, April 30th. SunTrust Banks cut their target price on shares of Globe Life from $108.00 to $79.00 and set a “hold” rating on the stock in a research note on Friday, April 24th. Piper Sandler started coverage on shares of Globe Life in a research note on Friday, June 5th. They issued a “neutral” rating and a $87.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Globe Life from a “hold” rating to a “sell” rating and set a $76.00 target price on the stock. in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $85.14.
About Globe Life
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.
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