Globe Life Inc. (GL) To Go Ex-Dividend on January 8th

Globe Life Inc. (NYSE:GL) announced a quarterly dividend on Thursday, November 5th. Shareholders of record on Friday, January 8th will be given a dividend of $0.33 per share on Monday, February 1st. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, January 8th.

Globe Life has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 20 consecutive years. Globe Life has a payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Globe Life to earn $16.39 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 8.1%.

Globe Life Stock Performance

Shares of GL stock opened at $157.27 on Friday. The company has a market cap of $12.09 billion, a PE ratio of 10.52 and a beta of 0.47. The company’s fifty day simple moving average is $166.85 and its 200-day simple moving average is $160.10. Globe Life has a 52 week low of $129.21 and a 52 week high of $191.55. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, missing analysts’ consensus estimates of $4.90 by ($0.06). The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.56 billion. Globe Life had a net margin of 18.89% and a return on equity of 19.95%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.81 EPS. As a group, equities research analysts anticipate that Globe Life will post 15.48 EPS for the current year.

Analyst Ratings Changes

GL has been the subject of several research reports. Jefferies Financial Group upped their target price on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Wells Fargo & Company decreased their target price on shares of Globe Life from $191.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, October 26th. Keefe, Bruyette & Woods reduced their price target on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Morgan Stanley reduced their price target on shares of Globe Life from $208.00 to $197.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. Finally, Weiss Ratings upgraded shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.50.

About Globe Life

Globe Life Inc (NYSE: GL) is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.