Connor Clark & Lunn Investment Management Ltd. Acquires 456,319 Shares of GSK plc (NYSE:GSK)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of GSK plc (NYSE:GSK) by 420.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 564,934 shares of the pharmaceutical company’s stock after buying an additional 456,319 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in GSK were worth $23,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GSK. Prospera Private Wealth LLC bought a new stake in shares of GSK in the third quarter worth about $216,000. West Family Investments Inc. purchased a new position in GSK during the 3rd quarter valued at approximately $236,000. Pathstone Holdings LLC grew its holdings in GSK by 12.1% during the 3rd quarter. Pathstone Holdings LLC now owns 246,614 shares of the pharmaceutical company’s stock valued at $10,086,000 after buying an additional 26,707 shares in the last quarter. Equity Investment Corp increased its stake in GSK by 1.8% in the 3rd quarter. Equity Investment Corp now owns 3,496,254 shares of the pharmaceutical company’s stock worth $142,927,000 after acquiring an additional 63,052 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of GSK by 3.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 53,348 shares of the pharmaceutical company’s stock worth $2,181,000 after acquiring an additional 1,737 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Performance

Shares of GSK stock opened at $33.36 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The stock’s fifty day moving average is $38.46 and its two-hundred day moving average is $40.49. GSK plc has a 52 week low of $32.83 and a 52 week high of $45.92. The company has a market capitalization of $69.14 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.28 and a beta of 0.66.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be issued a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.71%. GSK’s dividend payout ratio is presently 99.35%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 19.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 10.00% of the stock is currently owned by insiders.

About GSK

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.