Globe Life Inc. (NYSE:GL – Get Free Report) declared a quarterly dividend on Thursday, November 5th. Stockholders of record on Friday, January 8th will be paid a dividend of $0.33 per share on Monday, February 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, January 8th.
Globe Life has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 20 years. Globe Life has a payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Research 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 Down 0.6%
GL opened at $158.33 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The business has a 50 day simple moving average of $167.23 and a 200-day simple moving average of $160.00. The stock has a market capitalization of $12.17 billion, a P/E ratio of 10.54 and a beta of 0.47. Globe Life has a 12 month low of $129.21 and a 12 month high of $191.55.
Globe Life (NYSE:GL – Get Free Report) last issued its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, missing the consensus estimate of $4.90 by ($0.06). Globe Life had a return on equity of 19.95% and a net margin of 18.89%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the company posted $4.81 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Globe Life will post 15.48 earnings per share for the current fiscal year.
Globe Life announced that its board has approved a share repurchase program on Monday, August 10th that authorizes the company to repurchase $2.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 17.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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.
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