Pictet Asset Management Ltd. Acquires 200 Shares of Torchmark Corporation (TMK)
Pictet Asset Management Ltd. raised its position in Torchmark Corporation (NYSE:TMK) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 108,008 shares of the insurance provider’s stock after buying an additional 200 shares during the period. Pictet Asset Management Ltd.’s holdings in Torchmark Corporation were worth $8,155,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in TMK. BlackRock Inc. boosted its stake in Torchmark Corporation by 2,764.7% in the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock worth $576,118,000 after buying an additional 7,217,094 shares during the last quarter. Janus Capital Management LLC boosted its stake in Torchmark Corporation by 205.9% in the first quarter. Janus Capital Management LLC now owns 1,139,756 shares of the insurance provider’s stock worth $87,806,000 after buying an additional 767,124 shares during the last quarter. Vanguard Group Inc. boosted its stake in Torchmark Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock worth $918,194,000 after buying an additional 458,913 shares during the last quarter. State Street Corp boosted its stake in Torchmark Corporation by 2.6% in the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock worth $450,848,000 after buying an additional 150,546 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Torchmark Corporation by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,196,767 shares of the insurance provider’s stock worth $92,199,000 after buying an additional 127,185 shares during the last quarter. Institutional investors and hedge funds own 74.84% of the company’s stock.
Shares of Torchmark Corporation (TMK) opened at 78.86 on Wednesday. The company has a 50-day moving average of $78.11 and a 200 day moving average of $76.78. Torchmark Corporation has a one year low of $61.92 and a one year high of $79.90. The stock has a market cap of $9.17 billion, a PE ratio of 16.96 and a beta of 0.98.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. Torchmark Corporation’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.11 EPS. On average, analysts predict that Torchmark Corporation will post $4.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.76%. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.88%.
A number of equities research analysts have recently commented on TMK shares. BidaskClub cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Barclays PLC increased their price target on shares of Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $75.00 price target on shares of Torchmark Corporation in a report on Friday, May 26th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $73.33.
In other Torchmark Corporation news, VP Arvelia Bowie sold 16,875 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $78.45, for a total transaction of $1,323,843.75. Following the sale, the vice president now owns 17,941 shares of the company’s stock, valued at approximately $1,407,471.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lloyd W. Newton bought 2,500 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $75.28 per share, for a total transaction of $188,200.00. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 120,077 shares of company stock valued at $9,418,934. 3.79% of the stock is currently owned by company insiders.
About Torchmark Corporation
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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