Marshall Wace North America L.P. purchased a new position in shares of Torchmark Co. (NYSE:TMK) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,982 shares of the insurance provider’s stock, valued at approximately $244,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc lifted its holdings in shares of Torchmark by 1.7% during the third quarter. Vanguard Group Inc now owns 12,664,337 shares of the insurance provider’s stock worth $1,097,870,000 after buying an additional 210,422 shares in the last quarter. FMR LLC increased its position in shares of Torchmark by 10.2% in the fourth quarter. FMR LLC now owns 2,820,235 shares of the insurance provider’s stock worth $210,192,000 after purchasing an additional 260,809 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Torchmark by 0.3% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,967,608 shares of the insurance provider’s stock worth $161,245,000 after purchasing an additional 6,700 shares during the period. Geode Capital Management LLC increased its position in shares of Torchmark by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 1,457,051 shares of the insurance provider’s stock worth $108,420,000 after purchasing an additional 89,972 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Torchmark by 22.8% in the first quarter. Acadian Asset Management LLC now owns 1,409,739 shares of the insurance provider’s stock worth $115,529,000 after purchasing an additional 262,077 shares during the period. 75.69% of the stock is owned by institutional investors.
Separately, Zacks Investment Research cut HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. 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 company’s stock. The stock currently has an average rating of “Hold” and an average target price of $85.75.
Torchmark (NYSE:TMK) last released its earnings results on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.05. Torchmark had a return on equity of 12.75% and a net margin of 16.37%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business posted $1.47 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts anticipate that Torchmark Co. will post 6.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Wednesday, July 3rd. Torchmark’s payout ratio is 11.26%.
In related news, VP Carol A. Mccoy sold 6,000 shares of Torchmark stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $89.33, for a total value of $535,980.00. Following the transaction, the vice president now directly owns 101,043 shares of the company’s stock, valued at $9,026,171.19. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bill Leavell sold 38,000 shares of Torchmark stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $87.38, for a total value of $3,320,440.00. Following the completion of the transaction, the insider now directly owns 38,000 shares in the company, valued at $3,320,440. The disclosure for this sale can be found here. Insiders have sold 230,028 shares of company stock worth $20,091,723 over the last three months. 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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