Penobscot Investment Management Company Inc. raised its position in shares of Torchmark Corporation (NYSE:TMK) by 26.5% during the second quarter, Holdings Channel reports. The firm owned 6,820 shares of the insurance provider’s stock after buying an additional 1,430 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Torchmark Corporation were worth $522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TMK. Creative Planning increased its position in shares of Torchmark Corporation by 0.3% in the first quarter. Creative Planning now owns 7,594 shares of the insurance provider’s stock worth $585,000 after buying an additional 25 shares during the period. Wetherby Asset Management Inc. increased its position in shares of Torchmark Corporation by 0.6% in the second quarter. Wetherby Asset Management Inc. now owns 4,346 shares of the insurance provider’s stock worth $332,000 after buying an additional 27 shares during the period. Mason Street Advisors LLC increased its position in shares of Torchmark Corporation by 0.3% in the first quarter. Mason Street Advisors LLC now owns 15,134 shares of the insurance provider’s stock worth $1,166,000 after buying an additional 39 shares during the period. Meeder Asset Management Inc. increased its position in shares of Torchmark Corporation by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 10,455 shares of the insurance provider’s stock worth $800,000 after buying an additional 59 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock worth $187,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 74.84% of the company’s stock.

Torchmark Corporation (NYSE:TMK) opened at 76.85 on Friday. The stock’s 50 day moving average price is $78.20 and its 200 day moving average price is $76.79. The company has a market cap of $8.94 billion, a P/E ratio of 16.53 and a beta of 0.98. Torchmark Corporation has a 1-year low of $61.96 and a 1-year high of $79.90.

Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business earned $1.11 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Torchmark Corporation will post $4.75 earnings per share for the current fiscal year.

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A number of brokerages have issued reports on TMK. ValuEngine downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a research note on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Torchmark Corporation currently has a consensus rating of “Hold” and an average price target of $73.33.

In related news, Director Robert W. Ingram sold 1,827 shares of Torchmark Corporation stock in a transaction on Friday, July 28th. The stock was sold at an average price of $78.66, for a total value of $143,711.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lloyd W. Newton acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average cost of $75.28 per share, with a total value of $188,200.00. The disclosure for this purchase can be found here. Insiders sold 142,321 shares of company stock valued at $11,175,453 in the last ninety days. 3.79% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for Torchmark Corporation (NYSE:TMK)

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