Macquarie Group Ltd. cut its holdings in Torchmark Corporation (NYSE:TMK) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 183,285 shares of the insurance provider’s stock after selling 16,150 shares during the quarter. Macquarie Group Ltd. owned approximately 0.16% of Torchmark worth $14,679,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. ZWJ Investment Counsel Inc. acquired a new position in shares of Torchmark during the third quarter valued at about $205,000. Twin Tree Management LP acquired a new position in Torchmark in the 2nd quarter worth approximately $213,000. Bronfman E.L. Rothschild L.P. increased its holdings in Torchmark by 21.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock worth $225,000 after buying an additional 515 shares during the period. Quantbot Technologies LP acquired a new position in Torchmark in the 2nd quarter worth approximately $252,000. Finally, Intl Fcstone Inc. acquired a new position in Torchmark in the 2nd quarter worth approximately $267,000. 72.69% of the stock is owned by institutional investors.
In other Torchmark news, Chairman Gary L. Coleman sold 37,500 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $83.28, for a total value of $3,123,000.00. Following the transaction, the chairman now owns 666,875 shares in the company, valued at approximately $55,537,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP W Michael Pressley sold 52,500 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $83.93, for a total value of $4,406,325.00. Following the completion of the transaction, the executive vice president now owns 105,948 shares in the company, valued at approximately $8,892,215.64. The disclosure for this sale can be found here. Insiders have sold a total of 163,085 shares of company stock worth $13,701,414 in the last quarter. Insiders own 3.79% of the company’s stock.
Shares of Torchmark Corporation (NYSE TMK) traded down $0.40 during trading hours on Wednesday, hitting $89.00. The stock had a trading volume of 531,200 shares, compared to its average volume of 441,465. Torchmark Corporation has a 52-week low of $71.23 and a 52-week high of $90.32. The stock has a market cap of $10,320.94, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22.
Torchmark (NYSE:TMK) last announced its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Torchmark had a return on equity of 11.60% and a net margin of 13.80%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $1.15 EPS. The business’s revenue was up 5.7% on a year-over-year basis. analysts forecast that Torchmark Corporation will post 4.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.67%. Torchmark’s dividend payout ratio (DPR) is 12.77%.
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Torchmark Company Profile
Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.
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