Acadian Asset Management LLC Has $88.45 Million Position in Torchmark Co. (TMK)

Acadian Asset Management LLC lowered its holdings in Torchmark Co. (NYSE:TMK) by 14.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,020,293 shares of the insurance provider’s stock after selling 168,595 shares during the quarter. Acadian Asset Management LLC owned 0.91% of Torchmark worth $88,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riverhead Capital Management LLC increased its stake in Torchmark by 28.5% in the second quarter. Riverhead Capital Management LLC now owns 31,038 shares of the insurance provider’s stock valued at $2,527,000 after acquiring an additional 6,877 shares during the period. Cubist Systematic Strategies LLC increased its stake in Torchmark by 69.6% in the second quarter. Cubist Systematic Strategies LLC now owns 28,011 shares of the insurance provider’s stock valued at $2,280,000 after acquiring an additional 11,495 shares during the period. Bank of New York Mellon Corp increased its stake in Torchmark by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 1,498,890 shares of the insurance provider’s stock valued at $122,025,000 after acquiring an additional 203,149 shares during the period. Flinton Capital Management LLC increased its stake in Torchmark by 27.5% in the second quarter. Flinton Capital Management LLC now owns 19,648 shares of the insurance provider’s stock valued at $1,600,000 after acquiring an additional 4,240 shares during the period. Finally, Sumitomo Life Insurance Co. increased its stake in Torchmark by 4.5% in the second quarter. Sumitomo Life Insurance Co. now owns 17,184 shares of the insurance provider’s stock valued at $1,399,000 after acquiring an additional 737 shares during the period. 74.33% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Vern D. Herbel sold 52,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $88.25, for a total transaction of $4,633,125.00. Following the transaction, the executive vice president now directly owns 52,500 shares in the company, valued at $4,633,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Brian Mitchell sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $87.84, for a total transaction of $3,952,800.00. The disclosure for this sale can be found here. Insiders have sold 367,243 shares of company stock worth $32,395,055 over the last quarter. 3.68% of the stock is owned by company insiders.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Saturday, July 7th. SunTrust Banks decreased their price objective on shares of Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Monday. Morgan Stanley upped their price objective on shares of Torchmark from $80.00 to $81.00 and gave the stock an “underweight” rating in a research note on Thursday, July 26th. Finally, Goldman Sachs Group cut shares of Torchmark from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $92.00 to $78.00 in a research note on Monday, September 10th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Torchmark has an average rating of “Hold” and a consensus target price of $85.25.

Shares of Torchmark stock opened at $84.66 on Thursday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.15. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 0.99 and a beta of 0.90. Torchmark Co. has a 1-year low of $80.34 and a 1-year high of $93.60.

Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.06. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Torchmark had a net margin of 36.42% and a return on equity of 11.53%. As a group, equities analysts anticipate that Torchmark Co. will post 6.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, October 4th. This represents a $0.64 annualized dividend and a yield of 0.76%. Torchmark’s dividend payout ratio is 13.28%.

Torchmark 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.

Further Reading: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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