Oakbrook Investments LLC Trims Holdings in Torchmark Corporation (TMK)
Oakbrook Investments LLC trimmed its holdings in shares of Torchmark Corporation (NYSE:TMK) by 11.9% during the fourth quarter, Holdings Channel reports. The fund owned 8,160 shares of the insurance provider’s stock after selling 1,100 shares during the quarter. Oakbrook Investments LLC’s holdings in Torchmark were worth $740,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Tiedemann Wealth Management LLC grew its holdings in Torchmark by 8.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 16,147 shares of the insurance provider’s stock worth $127,000 after acquiring an additional 1,201 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Torchmark by 63.6% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 700 shares during the last quarter. Invictus RG bought a new stake in Torchmark during the 3rd quarter worth approximately $165,000. Assetmark Inc. grew its holdings in Torchmark by 7,975.0% during the 3rd quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock worth $181,000 after acquiring an additional 2,233 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new stake in Torchmark during the 3rd quarter worth approximately $205,000. 72.63% of the stock is currently owned by hedge funds and other institutional investors.
Torchmark Corporation (NYSE:TMK) opened at $92.15 on Monday. The stock has a market cap of $10,638.44, a P/E ratio of 19.61, a PEG ratio of 2.21 and a beta of 1.01. Torchmark Corporation has a 1 year low of $72.59 and a 1 year high of $93.34. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.65%. Torchmark’s dividend payout ratio (DPR) is currently 12.77%.
In related news, EVP W Michael Pressley sold 52,500 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 105,948 shares in the company, valued at approximately $8,892,215.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Roger C. Smith sold 30,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $84.50, for a total transaction of $2,535,000.00. Following the transaction, the insider now owns 65,685 shares in the company, valued at approximately $5,550,382.50. The disclosure for this sale can be found here. Insiders sold a total of 234,335 shares of company stock worth $20,167,546 in the last 90 days. Corporate insiders own 3.79% of the company’s stock.
A number of equities research analysts have weighed in on TMK shares. Zacks Investment Research lowered shares of Torchmark from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $78.00 target price on shares of Torchmark in a report on Sunday, October 8th. ValuEngine raised shares of Torchmark from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. SunTrust Banks boosted their target price on shares of Torchmark from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Goldman Sachs Group assumed coverage on shares of Torchmark in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $81.67.
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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