Hsbc Holdings PLC Invests $23.52 Million in Globe Life Inc. $GL

Hsbc Holdings PLC acquired a new stake in Globe Life Inc. (NYSE:GL) in the 2nd quarter, HoldingsChannel reports. The fund acquired 131,212 shares of the company’s stock, valued at approximately $23,519,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Globe Life by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock valued at $1,411,311,000 after buying an additional 86,349 shares during the period. BlackRock Inc. acquired a new position in shares of Globe Life in the second quarter worth $987,901,000. Invesco Ltd. increased its position in shares of Globe Life by 2.7% during the fourth quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock worth $552,262,000 after acquiring an additional 102,445 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Globe Life by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock worth $327,479,000 after acquiring an additional 217,331 shares during the period. Finally, Morgan Stanley raised its stake in shares of Globe Life by 7.2% in the fourth quarter. Morgan Stanley now owns 1,860,257 shares of the company’s stock valued at $260,176,000 after acquiring an additional 125,567 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Transactions at Globe Life

In other Globe Life news, EVP Michael Clay Majors sold 37,000 shares of Globe Life stock in a transaction on 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 directly owned 53,518 shares in the company, valued at approximately $9,560,455.52. The trade was a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cheryl Alston sold 8,258 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $179.24, for a total value of $1,480,163.92. Following the sale, the director directly owned 16,621 shares of the company’s stock, valued at approximately $2,979,148.04. This represents a 33.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 151,908 shares of company stock worth $27,239,981 over the last 90 days. Company insiders own 2.11% of the company’s stock.

Globe Life Price Performance

Shares of GL opened at $175.78 on Friday. Globe Life Inc. has a twelve month low of $127.85 and a twelve month high of $191.55. The firm’s fifty day simple moving average is $178.72 and its 200-day simple moving average is $159.43. The firm has a market capitalization of $13.51 billion, a price-to-earnings ratio of 11.67 and a beta of 0.48. 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) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities analysts forecast that Globe Life Inc. will post 15.71 EPS for the current fiscal year.

Globe Life announced that its Board of Directors has approved a stock buyback plan on Monday, August 10th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 17.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s payout ratio is presently 8.76%.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Keefe, Bruyette & Woods cut their price target on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Wells Fargo & Company increased their price target on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. TD Cowen lifted their price objective on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.67.

About Globe Life

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.