Torchmark Co. (TMK) Shares Bought by Fuller & Thaler Asset Management Inc.
Fuller & Thaler Asset Management Inc. raised its holdings in Torchmark Co. (NYSE:TMK) by 33.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,400 shares of the insurance provider’s stock after purchasing an additional 600 shares during the quarter. Fuller & Thaler Asset Management Inc.’s holdings in Torchmark were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. Tiedemann Wealth Management LLC grew 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 purchasing an additional 1,201 shares during the last quarter. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in shares of Torchmark in the fourth quarter valued at approximately $149,000. Invictus RG acquired a new position in shares of Torchmark in the third quarter valued at approximately $165,000. Cerebellum GP LLC acquired a new position in shares of Torchmark in the fourth quarter valued at approximately $173,000. Finally, Assetmark Inc. grew its position in shares of Torchmark by 7,975.0% in the third quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock valued at $181,000 after purchasing an additional 2,233 shares during the last quarter. Hedge funds and other institutional investors own 71.73% of the company’s stock.
Shares of Torchmark Co. (TMK) opened at $82.96 on Friday. The stock has a market capitalization of $9,488.19, a P/E ratio of 6.75, a P/E/G ratio of 1.92 and a beta of 0.97. Torchmark Co. has a 12-month low of $73.99 and a 12-month high of $93.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.06 and a current ratio of 0.06.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 3rd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, April 2nd. This is a boost from Torchmark’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.77%. Torchmark’s dividend payout ratio is presently 4.88%.
In other Torchmark news, Chairman Gary L. Coleman sold 24,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $86.25, for a total transaction of $2,070,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Clay Majors sold 21,900 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $87.70, for a total value of $1,920,630.00. Following the sale, the vice president now owns 11,921 shares of the company’s stock, valued at $1,045,471.70. The disclosure for this sale can be found here. Insiders have sold 132,150 shares of company stock valued at $11,766,713 over the last 90 days. Corporate insiders own 3.79% of the company’s stock.
Several research firms have recently commented on TMK. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Thursday, January 11th. ValuEngine raised Torchmark from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $83.00 price target on shares of Torchmark in a research report on Friday, November 10th. Wells Fargo & Co set a $78.00 price target on Torchmark and gave the stock a “sell” rating in a research report on Wednesday, February 7th. Finally, UBS Group started coverage on Torchmark in a research report on Friday. They set a “sell” rating and a $83.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Torchmark has a consensus rating of “Hold” and an average price target of $83.14.
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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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