Marshall Wace LLP Acquires New Holdings in Torchmark Co. (TMK)
Marshall Wace LLP acquired a new stake in shares of Torchmark Co. (NYSE:TMK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,962 shares of the insurance provider’s stock, valued at approximately $4,474,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new position in shares of Torchmark during the second quarter valued at about $101,000. Braun Bostich & Associates Inc. increased its holdings in shares of Torchmark by 1,298.9% during the second quarter. Braun Bostich & Associates Inc. now owns 1,287 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 1,195 shares in the last quarter. Signaturefd LLC acquired a new position in shares of Torchmark during the first quarter valued at about $122,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Torchmark by 22,414.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,576 shares of the insurance provider’s stock valued at $128,000 after acquiring an additional 1,569 shares in the last quarter. Finally, IBM Retirement Fund acquired a new position in shares of Torchmark during the first quarter valued at about $211,000. Hedge funds and other institutional investors own 73.95% of the company’s stock.
Shares of NYSE:TMK opened at $85.77 on Tuesday. Torchmark Co. has a twelve month low of $77.06 and a twelve month high of $93.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $9.50 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, October 5th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.64 annualized dividend and a yield of 0.75%. Torchmark’s dividend payout ratio (DPR) is presently 13.28%.
In related news, CEO Larry M. Hutchison sold 12,250 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $88.35, for a total value of $1,082,287.50. Following the transaction, the chief executive officer now owns 553,987 shares in the company, valued at approximately $48,944,751.45. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Henry Rogers, Jr. sold 875 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $87.57, for a total transaction of $76,623.75. Following the completion of the transaction, the insider now owns 875 shares in the company, valued at approximately $76,623.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 367,740 shares of company stock worth $32,438,743. 3.68% of the stock is owned by corporate insiders.
Several equities analysts have recently issued reports on TMK shares. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Saturday, July 7th. Goldman Sachs Group downgraded shares of Torchmark from a “neutral” rating to a “sell” rating and cut their price objective for the company from $92.00 to $78.00 in a report on Monday, September 10th. Finally, Morgan Stanley upped their price objective on shares of Torchmark from $80.00 to $81.00 and gave the company an “underweight” rating in a report on Thursday, July 26th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $84.63.
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, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
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