Torchmark Corporation (TMK) Shares Sold by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. cut its position in Torchmark Corporation (NYSE:TMK) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,184 shares of the insurance provider’s stock after selling 899 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Torchmark were worth $1,456,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of TMK. Prospector Partners LLC grew its position in Torchmark by 3.5% in the 3rd quarter. Prospector Partners LLC now owns 149,700 shares of the insurance provider’s stock worth $11,989,000 after purchasing an additional 5,000 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Torchmark by 0.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 177,891 shares of the insurance provider’s stock worth $14,245,000 after purchasing an additional 625 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Torchmark by 13.0% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,860 shares of the insurance provider’s stock worth $2,792,000 after purchasing an additional 4,000 shares during the last quarter. Convergence Investment Partners LLC acquired a new stake in Torchmark in the 3rd quarter worth $2,088,000. Finally, Invictus RG acquired a new stake in Torchmark in the 3rd quarter worth $165,000. Institutional investors and hedge funds own 72.46% of the company’s stock.
In related news, Director Paul J. Zucconi sold 595 shares of Torchmark stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $85.07, for a total transaction of $50,616.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roger C. Smith sold 30,000 shares of Torchmark stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $84.50, for a total transaction of $2,535,000.00. Following the transaction, the insider now directly owns 65,685 shares of the company’s stock, valued at $5,550,382.50. The disclosure for this sale can be found here. Insiders have sold a total of 193,085 shares of company stock valued at $16,420,614 over the last three months. 3.79% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $83.00 price objective on shares of Torchmark in a report on Friday, November 10th. SunTrust Banks raised their price objective on shares of Torchmark from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Thursday, October 26th. Finally, Goldman Sachs Group assumed coverage on shares of Torchmark in a report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Torchmark presently has a consensus rating of “Hold” and a consensus price target of $78.86.
Torchmark Corporation (NYSE TMK) opened at $90.69 on Friday. The company has a market cap of $10,438.70, a PE ratio of 19.30, a PEG ratio of 2.63 and a beta of 1.02. Torchmark Corporation has a 1-year low of $72.59 and a 1-year high of $91.00. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22.
Torchmark (NYSE:TMK) last released its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Torchmark had a net margin of 13.80% and a return on equity of 11.60%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.15 EPS. research analysts anticipate that Torchmark Corporation will post 4.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 4th. Torchmark’s dividend payout ratio is currently 12.77%.
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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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