Globe Life Inc. (NYSE:GL) to Issue Quarterly Dividend of $0.24

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Friday, November 15th,RTT News reports. Shareholders 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 yield of 0.88%.

Globe Life has increased its dividend by an average of 6.3% per year over the last three years and has increased its dividend annually for the last 19 consecutive years. Globe Life has a payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Globe Life to earn $13.53 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 Price Performance

NYSE:GL opened at $109.20 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $106.97 and its two-hundred day moving average price is $94.70. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 9.24 and a beta of 0.81. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share 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 company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $2.71 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Globe Life will post 12.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GL. Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Piper Sandler raised their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.