Hsbc Holdings PLC Sells 151,431 Shares of Globe Life Inc. (NYSE:GL)

Hsbc Holdings PLC cut its position in shares of Globe Life Inc. (NYSE:GL) by 48.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,538 shares of the company’s stock after selling 151,431 shares during the quarter. Hsbc Holdings PLC’s holdings in Globe Life were worth $13,167,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Globe Life by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after buying an additional 425,993 shares in the last quarter. Boston Partners boosted its stake in shares of Globe Life by 6.4% in the 1st quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after purchasing an additional 125,457 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Globe Life by 104.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after purchasing an additional 822,638 shares in the last quarter. Equity Investment Corp grew its holdings in shares of Globe Life by 21.9% during the 2nd quarter. Equity Investment Corp now owns 1,036,389 shares of the company’s stock valued at $85,274,000 after purchasing an additional 185,859 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Globe Life by 10,526.9% in the 1st quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock worth $116,061,000 after purchasing an additional 989,319 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Down 0.9 %

Shares of Globe Life stock opened at $106.26 on Monday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market cap of $9.57 billion, a P/E ratio of 10.15 and a beta of 0.81. The company’s fifty day simple moving average is $97.02 and its two-hundred day simple moving average is $92.09.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company earned $2.61 earnings per share. Globe Life’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

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

Insider Activity at Globe Life

In other news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the acquisition, the director now owns 15,605 shares in the company, valued at $1,407,571. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI raised their price target on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Piper Sandler lifted their price target on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note 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 research note on Friday, July 26th. Finally, Jefferies Financial Group lifted their target price on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.33.

Globe Life 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.