Hsbc Holdings PLC Raises Stake in Globe Life Inc. (NYSE:GL)

Hsbc Holdings PLC increased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,584 shares of the company's stock after buying an additional 16,195 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of Globe Life worth $17,524,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its position in shares of Globe Life by 4.0% in the 4th quarter. Stifel Financial Corp now owns 255,658 shares of the company's stock valued at $28,511,000 after buying an additional 9,728 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Globe Life by 8.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,925 shares of the company's stock valued at $661,000 after purchasing an additional 480 shares in the last quarter. Natixis lifted its stake in Globe Life by 50.0% during the fourth quarter. Natixis now owns 6,009 shares of the company's stock worth $670,000 after purchasing an additional 2,004 shares during the last quarter. Norinchukin Bank The boosted its holdings in shares of Globe Life by 3.8% in the 4th quarter. Norinchukin Bank The now owns 3,794 shares of the company's stock valued at $423,000 after purchasing an additional 138 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Globe Life in the 4th quarter valued at $6,277,000. Institutional investors own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

GL has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Wells Fargo & Company dropped their price objective on shares of Globe Life from $141.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. BMO Capital Markets initiated coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price on the stock. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and increased their price target for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Piper Sandler upped their price objective on Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life presently has an average rating of "Moderate Buy" and an average target price of $137.55.

Globe Life Trading Down 0.5 %

Shares of Globe Life stock traded down $0.64 on Wednesday, hitting $123.33. 1,376,881 shares of the company's stock traded hands, compared to its average volume of 946,708. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 10.32 and a beta of 0.60. The company has a fifty day moving average of $124.13 and a two-hundred day moving average of $116.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a one year low of $71.50 and a one year high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.23 by ($0.16). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. As a group, sell-side analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.88%. Globe Life's dividend payout ratio (DPR) is presently 9.04%.

Insiders Place Their Bets

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the transaction, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company's stock.

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.