American Century Companies Inc. Decreases Holdings in Torchmark Corporation (TMK)
American Century Companies Inc. cut its stake in Torchmark Corporation (NYSE:TMK) by 9.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 533,004 shares of the insurance provider’s stock after selling 58,414 shares during the quarter. American Century Companies Inc. owned about 0.46% of Torchmark Corporation worth $42,688,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Twin Tree Management LP bought a new position in Torchmark Corporation in the 2nd quarter worth $213,000. Bronfman E.L. Rothschild L.P. raised its holdings in Torchmark Corporation 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 purchasing an additional 515 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Torchmark Corporation in the 2nd quarter worth $243,000. Quantbot Technologies LP bought a new position in Torchmark Corporation in the 2nd quarter worth $252,000. Finally, Intl Fcstone Inc. bought a new position in Torchmark Corporation in the 2nd quarter worth $267,000. Institutional investors and hedge funds own 72.69% of the company’s stock.
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In other Torchmark Corporation news, VP Michael Clay Majors sold 7,500 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $84.71, for a total transaction of $635,325.00. Following the completion of the sale, the vice president now directly owns 10,760 shares in the company, valued at approximately $911,479.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP W Michael Pressley sold 52,500 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $83.93, for a total transaction of $4,406,325.00. Following the sale, the executive vice president now owns 105,948 shares of the company’s stock, valued at $8,892,215.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,329 shares of company stock valued at $13,360,683. 3.79% of the stock is owned by company insiders.
TMK has been the subject of several research reports. BidaskClub lowered shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 price target for the company in a research note on Friday, July 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 price target on shares of Torchmark Corporation in a research note on Thursday, August 3rd. Finally, Barclays PLC increased their price target on shares of Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $78.86.
Torchmark Corporation (NYSE:TMK) opened at $84.26 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market cap of $9,727.55, a PE ratio of 17.81, a P/E/G ratio of 2.45 and a beta of 1.00. Torchmark Corporation has a 12 month low of $69.09 and a 12 month high of $86.50.
Torchmark Corporation (NYSE:TMK) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a net margin of 13.80% and a return on equity of 11.60%. Torchmark Corporation’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. analysts anticipate that Torchmark Corporation will post 4.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.71%. Torchmark Corporation’s dividend payout ratio is currently 12.77%.
Torchmark Corporation 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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