The Manufacturers Life Insurance Company Purchases 7,990 Shares of GSK plc (NYSE:GSK)

The Manufacturers Life Insurance Company boosted its position in shares of GSK plc (NYSE:GSK) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,018,489 shares of the pharmaceutical company’s stock after buying an additional 7,990 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in GSK were worth $41,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in GSK during the 3rd quarter worth about $26,000. Concord Wealth Partners raised its holdings in GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in GSK during the 2nd quarter worth about $37,000. Fortitude Family Office LLC bought a new stake in GSK during the 3rd quarter worth about $42,000. Finally, PrairieView Partners LLC bought a new stake in shares of GSK in the 2nd quarter valued at about $47,000. 15.74% of the stock is owned by institutional investors.

Insider Activity at GSK

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of GSK stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. The trade was a 19.97 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 10.00% of the stock is owned by insiders.

GSK Price Performance

Shares of GSK opened at $34.33 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The stock has a 50 day simple moving average of $37.42 and a 200 day simple moving average of $40.09. GSK plc has a 52-week low of $32.83 and a 52-week high of $45.92. The firm has a market capitalization of $71.15 billion, a PE ratio of 22.29, a P/E/G ratio of 1.31 and a beta of 0.66.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 4.58%. GSK’s payout ratio is currently 99.35%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GSK shares. Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised GSK to a “hold” rating in a research note on Tuesday, August 27th. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and lowered their price target for the company from $53.00 to $39.50 in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft cut GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.25.

GSK Company Profile

GSK plc, together with its subsidiaries, engages in the research, development, and manufacture of vaccines, and specialty and general medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through two segments, Commercial Operations and Total R&D.