AlphaCrest Capital Management LLC Has $404,000 Position in Torchmark Co. (NYSE:TMK)
AlphaCrest Capital Management LLC reduced its holdings in Torchmark Co. (NYSE:TMK) by 21.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,924 shares of the insurance provider’s stock after selling 1,314 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Torchmark were worth $404,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Torchmark in the fourth quarter valued at approximately $85,330,000. Acadian Asset Management LLC increased its stake in Torchmark by 22.8% in the first quarter. Acadian Asset Management LLC now owns 1,409,739 shares of the insurance provider’s stock valued at $115,529,000 after purchasing an additional 262,077 shares in the last quarter. FMR LLC increased its stake in Torchmark by 10.2% in the fourth quarter. FMR LLC now owns 2,820,235 shares of the insurance provider’s stock valued at $210,192,000 after purchasing an additional 260,809 shares in the last quarter. Hsbc Holdings PLC increased its stake in Torchmark by 180.0% in the fourth quarter. Hsbc Holdings PLC now owns 359,799 shares of the insurance provider’s stock valued at $26,807,000 after purchasing an additional 231,320 shares in the last quarter. Finally, Prana Capital Management LP bought a new stake in Torchmark in the fourth quarter valued at approximately $15,770,000. Institutional investors and hedge funds own 76.01% of the company’s stock.
Shares of NYSE:TMK opened at $88.63 on Friday. Torchmark Co. has a 52 week low of $69.68 and a 52 week high of $91.28. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.67 and a beta of 0.97.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 0.78%. The ex-dividend date is Wednesday, July 3rd. Torchmark’s payout ratio is presently 11.26%.
In other Torchmark news, insider Kenneth J. Matson sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $81.16, for a total value of $649,280.00. Following the completion of the sale, the insider now owns 25,434 shares of the company’s stock, valued at $2,064,223.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth J. Matson sold 10,000 shares of the 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 directly owns 27,434 shares of the company’s stock, valued at approximately $2,377,979.12. The disclosure for this sale can be found here. Insiders sold 238,028 shares of company stock valued at $20,741,003 in the last ninety days. Insiders own 3.64% of the company’s stock.
Separately, Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus 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.
Further Reading: What is a Leveraged Buyout (LBO)?
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