Norinchukin Bank The Buys 23,473 Shares of Torchmark Corporation (TMK)
Norinchukin Bank The boosted its stake in Torchmark Corporation (NYSE:TMK) by 546.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,769 shares of the insurance provider’s stock after buying an additional 23,473 shares during the quarter. Norinchukin Bank The’s holdings in Torchmark Corporation were worth $2,224,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Girard Partners LTD. lifted its stake in Torchmark Corporation by 0.3% in the 2nd quarter. Girard Partners LTD. now owns 3,844 shares of the insurance provider’s stock valued at $294,000 after buying an additional 12 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in shares of Torchmark Corporation by 0.6% during the 2nd quarter. Wetherby Asset Management Inc. now owns 4,346 shares of the insurance provider’s stock worth $332,000 after purchasing an additional 27 shares during the period. Sentry Investment Management LLC lifted its stake in shares of Torchmark Corporation by 2.0% during the 2nd quarter. Sentry Investment Management LLC now owns 4,750 shares of the insurance provider’s stock worth $363,000 after purchasing an additional 91 shares during the period. Thrivent Financial For Lutherans lifted its stake in shares of Torchmark Corporation by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,140 shares of the insurance provider’s stock worth $317,000 after purchasing an additional 120 shares during the period. Finally, Flinton Capital Management LLC lifted its stake in shares of Torchmark Corporation by 1.4% during the 2nd quarter. Flinton Capital Management LLC now owns 16,528 shares of the insurance provider’s stock worth $1,264,000 after purchasing an additional 224 shares during the period. 73.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on TMK. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Goldman Sachs Group Inc began coverage on Torchmark Corporation in a research note on Wednesday, October 18th. They set a “neutral” rating and a $83.00 price target on the stock. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Thursday, October 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set 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 Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $78.86.
Shares of Torchmark Corporation (NYSE TMK) traded down $0.01 during trading on Friday, hitting $85.16. The company’s stock had a trading volume of 173,616 shares, compared to its average volume of 442,867. Torchmark Corporation has a one year low of $69.55 and a one year high of $86.50. The stock has a market cap of $9,832.60, a price-to-earnings ratio of 18.01, a PEG ratio of 2.47 and a beta of 1.00. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22.
Torchmark Corporation (NYSE:TMK) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Torchmark Corporation had a return on equity of 11.60% and a net margin of 13.80%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $1.15 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. analysts forecast that Torchmark Corporation will post 4.8 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be issued 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 0.70%. Torchmark Corporation’s payout ratio is 12.77%.
In other news, EVP W Michael Pressley sold 52,500 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $83.93, for a total transaction of $4,406,325.00. Following the completion of the sale, the executive vice president now directly owns 105,948 shares in the company, valued at approximately $8,892,215.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vern D. Herbel sold 25,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $83.89, for a total value of $2,097,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,085 shares of company stock valued at $13,701,414. Insiders own 3.79% of the company’s stock.
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Torchmark Corporation 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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