Hsbc Holdings PLC Acquires 10,889 Shares of Globe Life Inc. $GL

Key Points

• Hsbc Holdings PLC increased its stake in Globe Life Inc. by 6.9% during Q1, owning 168,473 shares valued at $22.12 million.
• CEO Frank M. Svoboda sold 12,500 shares of Globe Life, representing a 27.63% decrease in ownership, while the company's insiders sold a total of 84,722 shares worth nearly $11.73 million.
• Globe Life reported a quarterly earnings per share of $3.27, slightly above estimates, and has set its FY 2025 guidance between $14.250-$14.650 EPS.

Hsbc Holdings PLC lifted its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,473 shares of the company's stock after acquiring an additional 10,889 shares during the quarter. Hsbc Holdings PLC owned 0.20% of Globe Life worth $22,120,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SouthState Corp bought a new stake in shares of Globe Life during the 1st quarter worth $43,000. Allworth Financial LP lifted its holdings in shares of Globe Life by 22.0% in the first quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after purchasing an additional 103 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Globe Life by 140.2% in the first quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after purchasing an additional 342 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Globe Life by 792.7% in the first quarter. Brooklyn Investment Group now owns 732 shares of the company's stock valued at $96,000 after purchasing an additional 650 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its holdings in shares of Globe Life by 25.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 774 shares of the company's stock valued at $100,000 after purchasing an additional 157 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO James Matthew Darden sold 33,270 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the sale, the chief executive officer directly owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following the completion of the sale, the chief financial officer directly owned 30,665 shares in the company, valued at approximately $4,322,845.05. This represents a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.51% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GL shares. BMO Capital Markets restated a "market perform" rating and issued a $149.00 target price (up previously from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Cfra Research upgraded Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. increased their price objective on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company increased their price objective on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Globe Life currently has an average rating of "Moderate Buy" and an average target price of $152.45.

Globe Life Stock Down 0.3%

Globe Life stock traded down $0.38 during mid-day trading on Thursday, hitting $140.11. 178,846 shares of the company's stock were exchanged, compared to its average volume of 648,637. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $11.35 billion, a P/E ratio of 11.21 and a beta of 0.56. Globe Life Inc. has a 1-year low of $99.04 and a 1-year high of $144.00. The stock has a 50 day moving average of $130.01 and a two-hundred day moving average of $125.24.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.25 by $0.02. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's dividend payout ratio (DPR) is currently 8.63%.

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.