Torchmark Corporation (TMK) Position Lifted by Janus Henderson Group PLC
Janus Henderson Group PLC boosted its holdings in shares of Torchmark Corporation (NYSE:TMK) by 14,667.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,531,462 shares of the insurance provider’s stock after buying an additional 2,514,320 shares during the period. Janus Henderson Group PLC owned approximately 2.18% of Torchmark Corporation worth $193,657,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Global X Management Co. LLC raised its position in Torchmark Corporation by 539.3% during the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock valued at $193,000 after buying an additional 2,114 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Torchmark Corporation during the first quarter valued at $205,000. Twin Tree Management LP acquired a new position in Torchmark Corporation during the second quarter valued at $213,000. Bronfman E.L. Rothschild L.P. raised its position in Torchmark Corporation by 21.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock valued at $225,000 after buying an additional 515 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Torchmark Corporation by 46.3% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,072 shares of the insurance provider’s stock valued at $237,000 after buying an additional 972 shares during the period. 71.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Torchmark Corporation (NYSE TMK) remained flat at $80.81 on Friday. 371,872 shares of the stock were exchanged. The company has a 50-day moving average of $77.95 and a 200 day moving average of $77.10. Torchmark Corporation has a 52-week low of $62.86 and a 52-week high of $81.17. The stock has a market cap of $9.40 billion, a P/E ratio of 17.38 and a beta of 1.00.
Torchmark Corporation (NYSE:TMK) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.02. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $1.11 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Torchmark Corporation will post $4.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Thursday, October 5th. Torchmark Corporation’s dividend payout ratio is 12.88%.
Several research firms recently weighed in on TMK. Zacks Investment Research lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Barclays PLC upped their price target on Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $78.00 price target on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Torchmark Corporation presently has an average rating of “Hold” and a consensus target price of $73.33.
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In other Torchmark Corporation news, EVP Vern D. Herbel sold 27,500 shares of Torchmark Corporation stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $78.62, for a total value of $2,162,050.00. Following the sale, the executive vice president now owns 56,943 shares of the company’s stock, valued at approximately $4,476,858.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Arvelia Bowie sold 16,875 shares of Torchmark Corporation stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $78.45, for a total value of $1,323,843.75. Following the completion of the sale, the vice president now directly owns 17,941 shares in the company, valued at approximately $1,407,471.45. The disclosure for this sale can be found here. Insiders sold a total of 137,821 shares of company stock worth $10,837,593 in the last three months. Company insiders own 3.79% of the company’s stock.
Torchmark Corporation 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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