Torchmark Corporation (TMK) Position Increased by Teacher Retirement System of Texas
Teacher Retirement System of Texas increased its stake in Torchmark Corporation (NYSE:TMK) by 739.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,980 shares of the insurance provider’s stock after purchasing an additional 124,193 shares during the period. Teacher Retirement System of Texas owned 0.12% of Torchmark Corporation worth $11,291,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. OMERS ADMINISTRATION Corp acquired a new stake in Torchmark Corporation during the 2nd quarter valued at approximately $1,727,000. BlueMountain Capital Management LLC lifted its stake in Torchmark Corporation by 99.5% during the 2nd quarter. BlueMountain Capital Management LLC now owns 38,259 shares of the insurance provider’s stock valued at $2,927,000 after acquiring an additional 19,085 shares during the period. Girard Partners LTD. lifted its stake in Torchmark Corporation by 0.3% during the 2nd quarter. Girard Partners LTD. now owns 3,844 shares of the insurance provider’s stock valued at $294,000 after acquiring an additional 12 shares during the period. Laurion Capital Management LP acquired a new stake in Torchmark Corporation during the 2nd quarter valued at approximately $4,447,000. Finally, State of Wisconsin Investment Board lifted its stake in Torchmark Corporation by 9.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 83,343 shares of the insurance provider’s stock valued at $6,376,000 after acquiring an additional 6,860 shares during the period. Institutional investors and hedge funds own 72.69% of the company’s stock.
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Torchmark Corporation (TMK) opened at $85.44 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22. Torchmark Corporation has a 12 month low of $69.32 and a 12 month high of $86.50. The stock has a market cap of $9,860.00, a price-to-earnings ratio of 18.01, a P/E/G ratio of 2.47 and a beta of 1.01.
Torchmark Corporation (NYSE:TMK) last posted its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. Torchmark Corporation had a net margin of 13.80% and a return on equity of 11.60%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business posted $1.15 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. research analysts anticipate that Torchmark Corporation will post 4.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, January 4th. Torchmark Corporation’s dividend payout ratio is currently 12.93%.
In related news, Chairman Gary L. Coleman sold 37,500 shares of the business’s stock in a transaction on 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 transaction, the chairman now directly owns 666,875 shares in the company, valued at approximately $55,537,350. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James Eric Mcpartland sold 5,115 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $85.56, for a total transaction of $437,639.40. Following the completion of the transaction, the executive vice president now owns 7,000 shares of the company’s stock, valued at $598,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,085 shares of company stock valued at $13,701,414. Company insiders own 3.79% of the company’s stock.
Several analysts have commented on the stock. BidaskClub cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods restated a “hold” rating and set a $78.00 price objective on shares of Torchmark Corporation in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Finally, SunTrust Banks, Inc. lifted their price objective on shares of Torchmark Corporation from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $78.86.
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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