Torchmark Corporation (TMK) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC boosted its stake in shares of Torchmark Corporation (NYSE:TMK) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 156,508 shares of the insurance provider’s stock after purchasing an additional 3,232 shares during the period. Teachers Advisors LLC owned approximately 0.13% of Torchmark Corporation worth $11,973,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in TMK. UBS Asset Management Americas Inc. boosted its holdings in shares of Torchmark Corporation by 6.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 293,274 shares of the insurance provider’s stock valued at $22,594,000 after acquiring an additional 16,991 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Torchmark Corporation by 128.0% in the 1st quarter. Sei Investments Co. now owns 43,324 shares of the insurance provider’s stock valued at $3,338,000 after acquiring an additional 24,325 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Torchmark Corporation by 211.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,960 shares of the insurance provider’s stock valued at $690,000 after acquiring an additional 6,082 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Torchmark Corporation in the 1st quarter valued at $205,000. Finally, Mason Street Advisors LLC boosted its holdings in shares of Torchmark Corporation by 0.3% in the 1st quarter. Mason Street Advisors LLC now owns 15,134 shares of the insurance provider’s stock valued at $1,166,000 after acquiring an additional 39 shares during the last quarter. 71.93% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on TMK. Zacks Investment Research downgraded shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub downgraded shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Barclays PLC upped their price objective on shares of Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Torchmark Corporation presently has a consensus rating of “Hold” and a consensus price target of $73.33.
Torchmark Corporation (NYSE:TMK) opened at 80.09 on Friday. The firm has a market capitalization of $9.32 billion, a PE ratio of 17.23 and a beta of 0.98. The firm’s 50-day moving average is $77.58 and its 200-day moving average is $76.95. Torchmark Corporation has a 52-week low of $62.86 and a 52-week high of $80.30.
Torchmark Corporation (NYSE:TMK) last issued its 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. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 EPS. On average, analysts anticipate that Torchmark Corporation will post $4.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.75%. Torchmark Corporation’s payout ratio is currently 12.88%.
In other Torchmark Corporation news, Director Robert W. Ingram sold 1,827 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $78.66, for a total transaction of $143,711.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Gary L. Coleman sold 37,500 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $78.57, for a total transaction of $2,946,375.00. Following the sale, the chairman now owns 666,875 shares in the company, valued at $52,396,368.75. The disclosure for this sale can be found here. Insiders have sold a total of 137,821 shares of company stock worth $10,837,593 over the last 90 days. Insiders own 3.79% of the company’s stock.
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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