Hsbc Holdings PLC Cuts Stock Holdings in Globe Life Inc. (NYSE:GL)

Hsbc Holdings PLC decreased its position in Globe Life Inc. (NYSE:GL) by 48.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,538 shares of the company’s stock after selling 151,431 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of Globe Life worth $13,167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GL. NBC Securities Inc. increased its stake in Globe Life by 2.7% in the 1st quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock valued at $675,000 after buying an additional 153 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Globe Life by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after acquiring an additional 167 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in Globe Life by 7.6% during the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock worth $305,000 after acquiring an additional 184 shares during the period. Bruce G. Allen Investments LLC boosted its position in Globe Life by 33.2% in the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares during the last quarter. Finally, SRN Advisors LLC grew its stake in Globe Life by 5.2% in the 1st quarter. SRN Advisors LLC now owns 6,758 shares of the company’s stock valued at $786,000 after purchasing an additional 332 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary E. Thigpen purchased 3,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GL. Jefferies Financial Group boosted their price target on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 target price (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial increased their price objective on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Morgan Stanley boosted their target price on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.33.

Globe Life Price Performance

Shares of NYSE GL opened at $106.26 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The stock has a market cap of $9.57 billion, a PE ratio of 10.15 and a beta of 0.81. The stock has a fifty day moving average of $97.02 and a 200-day moving average of $92.09.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. 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 return on equity of 21.93% and a net margin of 18.47%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm earned $2.61 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is presently 9.17%.

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.