Hancock Whitney Corp lowered its stake in Torchmark Co. (NYSE:TMK) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,354 shares of the insurance provider’s stock after selling 11,619 shares during the period. Hancock Whitney Corp owned approximately 0.13% of Torchmark worth $11,830,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Torchmark during the 4th quarter valued at $85,330,000. Acadian Asset Management LLC grew its holdings in shares of Torchmark by 22.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,409,739 shares of the insurance provider’s stock valued at $115,529,000 after acquiring an additional 262,077 shares in the last quarter. FMR LLC grew its holdings in shares of Torchmark by 10.2% during the 4th quarter. FMR LLC now owns 2,820,235 shares of the insurance provider’s stock valued at $210,192,000 after acquiring an additional 260,809 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Torchmark by 180.0% during the 4th quarter. Hsbc Holdings PLC now owns 359,799 shares of the insurance provider’s stock valued at $26,807,000 after acquiring an additional 231,320 shares in the last quarter. Finally, Prana Capital Management LP purchased a new position in shares of Torchmark during the 4th quarter valued at $15,770,000. 75.71% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $85.75.
Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.05. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Torchmark had a net margin of 16.37% and a return on equity of 12.75%. Torchmark’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.47 earnings per share. Sell-side analysts forecast that Torchmark Co. will post 6.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Wednesday, July 3rd. Torchmark’s dividend payout ratio (DPR) is 11.26%.
In other Torchmark news, VP Carol A. Mccoy sold 6,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $89.33, for a total transaction of $535,980.00. Following the completion of the sale, the vice president now directly owns 101,043 shares in the company, valued at $9,026,171.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Ingram sold 290 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $87.85, for a total transaction of $25,476.50. The disclosure for this sale can be found here. Insiders have sold 230,028 shares of company stock valued at $20,091,723 over the last 90 days. Corporate insiders own 3.64% of the company’s stock.
Torchmark Company Profile
Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.
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