Marshall Wace LLP acquired a new stake in Torchmark Co. (NYSE:TMK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,991 shares of the insurance provider’s stock, valued at approximately $1,393,000.
Other hedge funds have also added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Torchmark by 0.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,967,608 shares of the insurance provider’s stock valued at $161,245,000 after purchasing an additional 6,700 shares in the last quarter. Westpac Banking Corp raised its holdings in shares of Torchmark by 27.9% in the 1st quarter. Westpac Banking Corp now owns 129,447 shares of the insurance provider’s stock valued at $10,608,000 after purchasing an additional 28,203 shares in the last quarter. Meiji Yasuda Life Insurance Co acquired a new stake in shares of Torchmark in the 1st quarter valued at $395,000. Andra AP fonden acquired a new stake in shares of Torchmark in the 1st quarter valued at $7,818,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Torchmark in the 1st quarter valued at $518,000. Institutional investors own 75.69% of the company’s stock.
In related news, insider Bill Leavell sold 38,000 shares of Torchmark stock in a transaction on Monday, April 29th. The shares were sold at an average price of $87.38, for a total transaction of $3,320,440.00. Following the sale, the insider now directly owns 38,000 shares in the company, valued at approximately $3,320,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth J. Matson sold 10,000 shares of Torchmark stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $86.68, for a total transaction of $866,800.00. Following the sale, the insider now owns 27,434 shares in the company, valued at $2,377,979.12. The disclosure for this sale can be found here. Insiders have sold a total of 230,028 shares of company stock worth $20,091,723 over the last quarter. 3.64% of the stock is owned by company insiders.
Torchmark (NYSE:TMK) last announced its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.05. Torchmark had a net margin of 16.37% and a return on equity of 12.75%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the business earned $1.47 EPS. Torchmark’s revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts expect that Torchmark Co. will post 6.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.1725 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $0.69 annualized dividend and a yield of 0.75%. Torchmark’s dividend payout ratio is currently 11.26%.
Separately, Zacks Investment Research lowered shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Torchmark presently has a consensus rating of “Hold” and an average price target of $85.75.
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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