Globe Life Inc. (GL) To Go Ex-Dividend on April 3rd

Globe Life Inc. (NYSE:GL) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Investors of record on Thursday, April 3rd will be paid a dividend of 0.27 per share on Thursday, May 1st. This represents a $1.08 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24.

Globe Life has increased its dividend payment by an average of 6.7% per year over the last three years and has raised its dividend annually for the last 19 consecutive years. Globe Life has a payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Globe Life to earn $15.03 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 6.4%.

Globe Life Stock Performance

Shares of GL opened at $127.69 on Friday. The business has a 50-day simple moving average of $118.29 and a two-hundred day simple moving average of $110.23. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 52 week low of $38.95 and a 52 week high of $129.05. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 10.68 and a beta of 0.81.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, analysts expect that Globe Life will post 13.87 EPS for the current year.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Jefferies Financial Group increased their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, Morgan Stanley lifted their price objective on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,678 shares of company stock valued at $8,799,822. Insiders own 1.51% of the company’s stock.

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.