Torchmark Corporation (TMK) Shares Bought by Girard Partners LTD.
Girard Partners LTD. increased its stake in shares of Torchmark Corporation (NYSE:TMK) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,844 shares of the insurance provider’s stock after buying an additional 12 shares during the period. Girard Partners LTD.’s holdings in Torchmark Corporation were worth $294,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in TMK. Bronfman E.L. Rothschild L.P. raised its stake 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 valued at $187,000 after buying an additional 69 shares during the period. Global X Management Co. LLC raised its stake in shares of Torchmark Corporation by 539.3% in 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. bought a new stake in shares of Torchmark Corporation during the first quarter valued at about $205,000. Dai Ichi Life Insurance Company Ltd bought a new stake in shares of Torchmark Corporation during the first quarter valued at about $206,000. Finally, Warren Averett Asset Management LLC bought a new stake in shares of Torchmark Corporation during the first quarter valued at about $207,000. Institutional investors and hedge funds own 71.92% of the company’s stock.
Torchmark Corporation (NYSE:TMK) opened at 77.21 on Tuesday. Torchmark Corporation has a 1-year low of $62.86 and a 1-year high of $79.90. The stock has a 50 day moving average of $78.23 and a 200 day moving average of $76.93. The stock has a market capitalization of $8.98 billion, a P/E ratio of 16.61 and a beta of 0.98.
Torchmark Corporation (NYSE:TMK) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business earned $1.11 earnings per share. Torchmark Corporation’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts expect that Torchmark Corporation will post $4.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.78%. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.88%.
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Several brokerages have recently issued reports on TMK. BidaskClub lowered shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Monday, June 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 target price on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Barclays PLC lifted their target price on shares of Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Friday, August 11th. Finally, ValuEngine upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $73.33.
In other Torchmark Corporation news, VP Arvelia Bowie sold 16,875 shares of the business’s 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 sale, the vice president now directly owns 17,941 shares in the company, valued at $1,407,471.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven John Dichiaro sold 4,500 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $75.08, for a total transaction of $337,860.00. Following the completion of the sale, the insider now owns 12,860 shares in the company, valued at $965,528.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,321 shares of company stock worth $11,175,453. 3.79% of the stock is owned by company 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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