Globe Life Inc. (GL) will pay a quarterly dividend of $0.24 on November 1

Globe Life Inc. (NYSE:GL – Free Report) announced a quarterly dividend on Thursday, August 8, RTT News reports. Investors of record on Friday, October 4 will receive a dividend of $0.24 per share on Friday, November 1. This represents an annualized dividend of $0.96 and a yield of 1.04%.

Globe Life has increased its dividend payout by an average of 6.3% annually over the past three years and has increased its dividend every year for the past 19 years. Globe Life has a dividend payout ratio of 7.3%, meaning its dividend is adequately covered by earnings. Equity analysts expect Globe Life to generate $13.09 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.96 with an expected future payout ratio of 7.3%.

Globe Life price development

NYSE:GL shares rose $0.71 on Friday, reaching $92.02. The trading volume of the company’s shares was 851,677 shares, compared to its average volume of 1,875,544. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a market cap of $8.29 billion, a P/E ratio of 8.79 and a beta of 0.80. The company has a 50-day moving average of $85.24 and a 200-day moving average of $97.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL – Get Free Report) last released its quarterly earnings results on Wednesday, July 24. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The company posted revenue of $1.44 billion for the quarter, compared to analyst expectations of $1.45 billion. During the same period last year, the company reported $2.61 earnings per share. The company’s revenue grew 8.6% year-over-year. As a group, equities analysts expect Globe Life to report earnings per share of $11.92 for the current fiscal year.

Insiders place their bets

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 26. The shares were acquired at an average price of $90.20 per share, for a total value of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO James Matthew Darden bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16. The shares were acquired at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the purchase, the CEO now directly owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary E. Thigpen bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 26. The shares were bought at an average price of $90.20 per share, for a total value of $270,600.00. Following the completion of the purchase, the director now owns 15,605 shares of the company’s stock, valued at $1,407,571. The disclosure regarding this purchase can be found here. During the last quarter, insiders bought 8,000 shares of the company’s stock, valued at $687,880. Insiders own 1.51% of the company’s stock.

Analysts set new price targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley increased their price target on Globe Life shares from $62.00 to $65.00 and gave the stock an “Equal Weight” rating in a report on Wednesday, July 10th. Wells Fargo & Company increased their price target on Globe Life shares from $105.00 to $108.00 and gave the stock an “Overweight” rating in a report on Friday, July 26th. Piper Sandler increased their price target on Globe Life shares from $105.00 to $106.00 and gave the stock an “Overweight” rating in a report on Friday, July 26th. Evercore ISI increased their price target on Globe Life shares from $83.00 to $86.00 and gave the stock an “In-Line” rating in a report on Wednesday, June 26th. Finally, StockNews.com downgraded shares of Globe Life from a “buy” to a “hold” rating in a report on Saturday, April 20. Five research analysts have rated the stock with a “hold,” four have given a “buy” rating and one has given a “strong buy” rating. The company currently has an average rating of “moderate buy” and an average price target of $106.33, according to data from MarketBeat.

Read our latest analysis on Globe Life

Globe Life Company Profile

(Get free report)

Globe Life Inc., through its subsidiaries, offers a variety of life and supplemental health insurance products, as well as annuities to lower- and middle-income families in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities and Investments.