Hsbc Holdings PLC Acquires 14,956 Shares of Globe Life Inc. $GL

Hsbc Holdings PLC increased its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 12.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,212 shares of the company's stock after purchasing an additional 14,956 shares during the quarter. Hsbc Holdings PLC owned 0.17% of Globe Life worth $23,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Globe Life by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company's stock valued at $1,237,000 after acquiring an additional 607 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Globe Life by 368.1% during the first quarter. NewEdge Advisors LLC now owns 6,806 shares of the company's stock valued at $897,000 after purchasing an additional 5,352 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Globe Life by 11.5% during the first quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company's stock valued at $74,161,000 after purchasing an additional 58,163 shares during the last quarter. Empowered Funds LLC bought a new position in Globe Life during the first quarter valued at approximately $428,000. Finally, Focus Partners Wealth lifted its position in Globe Life by 8.3% during the first quarter. Focus Partners Wealth now owns 8,559 shares of the company's stock valued at $1,127,000 after purchasing an additional 656 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GL has been the topic of a number of research reports. Piper Sandler raised their price target on Globe Life from $175.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Jefferies Financial Group increased their target price on Globe Life from $147.00 to $166.00 and gave the company a "hold" rating in a report on Friday, July 10th. Keefe, Bruyette & Woods cut their price target on Globe Life from $192.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $181.00 to $201.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley raised their price objective on shares of Globe Life from $181.00 to $208.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $191.67.

Globe Life Stock Performance

NYSE:GL opened at $170.52 on Wednesday. The stock has a 50-day moving average price of $178.28 and a 200 day moving average price of $161.10. The stock has a market capitalization of $13.10 billion, a P/E ratio of 11.32 and a beta of 0.46. Globe Life Inc. has a 12-month low of $127.85 and a 12-month 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing analysts' consensus estimates of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the prior year, the firm posted $3.05 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities research analysts forecast that Globe Life Inc. will post 15.71 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life's dividend payout ratio is currently 8.76%.

Globe Life declared that its board has authorized a stock repurchase plan on Monday, August 10th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to buy up to 17.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 10,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the completion of the transaction, the chief executive officer owned 54,020 shares of the company's stock, valued at $9,004,053.60. This represents a 15.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Majors sold 37,000 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total value of $6,609,680.00. Following the transaction, the executive vice president owned 53,518 shares of the company's stock, valued at approximately $9,560,455.52. The trade was a 40.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 151,908 shares of company stock valued at $27,239,981 in the last quarter. Company insiders own 2.11% of the company's stock.

Globe Life Profile

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company's product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

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