Prospector Partners LLC Buys 5,000 Shares of Torchmark Corporation (TMK)
Prospector Partners LLC grew its stake in Torchmark Corporation (NYSE:TMK) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,700 shares of the insurance provider’s stock after acquiring an additional 5,000 shares during the quarter. Torchmark comprises approximately 1.8% of Prospector Partners LLC’s portfolio, making the stock its 11th biggest holding. Prospector Partners LLC owned approximately 0.13% of Torchmark worth $11,989,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of TMK. Tiedemann Wealth Management LLC lifted its position in shares of Torchmark by 8.0% in the third quarter. Tiedemann Wealth Management LLC now owns 16,147 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 1,201 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Torchmark by 63.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock worth $144,000 after buying an additional 700 shares during the period. Invictus RG purchased a new position in Torchmark during the third quarter worth about $165,000. Assetmark Inc. lifted its position in Torchmark by 7,975.0% during the third quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock worth $181,000 after buying an additional 2,233 shares during the period. Finally, ZWJ Investment Counsel Inc. purchased a new position in Torchmark during the third quarter worth about $205,000. Institutional investors and hedge funds own 72.69% of the company’s stock.
Shares of Torchmark Corporation (TMK) traded up $0.03 during trading hours on Thursday, reaching $89.03. The company’s stock had a trading volume of 555,900 shares, compared to its average volume of 441,952. The firm has a market capitalization of $10,270.00, a price-to-earnings ratio of 18.82, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06. Torchmark Corporation has a 12 month low of $72.14 and a 12 month high of $90.32.
Torchmark (NYSE:TMK) last announced its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 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 had a return on equity of 11.60% and a net margin of 13.80%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share. research analysts predict that Torchmark Corporation will post 4.8 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.60 annualized dividend and a yield of 0.67%. Torchmark’s dividend payout ratio is presently 12.93%.
In other news, EVP Vern D. Herbel sold 25,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $83.89, for a total value of $2,097,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gary L. Coleman sold 37,500 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $83.28, for a total value of $3,123,000.00. Following the completion of the sale, the chairman now owns 666,875 shares of the company’s stock, valued at approximately $55,537,350. The disclosure for this sale can be found here. Insiders have sold 163,085 shares of company stock valued at $13,701,414 over the last 90 days. 3.79% of the stock is currently owned by insiders.
Several research firms recently weighed in on TMK. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $83.00 target price on shares of Torchmark in a research report on Friday, November 10th. SunTrust Banks increased their target price on Torchmark from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Thursday, October 26th. Finally, Goldman Sachs Group began coverage on Torchmark in a research report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Torchmark has an average rating of “Hold” and an average price target of $78.86.
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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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