Torchmark Corporation (TMK) Shares Sold by Korea Investment CORP
Korea Investment CORP reduced its position in shares of Torchmark Corporation (NYSE:TMK) by 19.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,600 shares of the insurance provider’s stock after selling 10,200 shares during the period. Korea Investment CORP’s holdings in Torchmark Corporation were worth $3,412,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in TMK. Vanguard Group Inc. boosted its position in shares of Torchmark Corporation by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 12,040,805 shares of the insurance provider’s stock valued at $921,122,000 after purchasing an additional 122,391 shares during the period. Janus Henderson Group PLC boosted its position in shares of Torchmark Corporation by 14,667.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,531,462 shares of the insurance provider’s stock valued at $193,657,000 after purchasing an additional 2,514,320 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Torchmark Corporation by 11.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,331,664 shares of the insurance provider’s stock valued at $101,872,000 after purchasing an additional 134,897 shares during the period. Schroder Investment Management Group boosted its position in shares of Torchmark Corporation by 3.9% in the 2nd quarter. Schroder Investment Management Group now owns 710,904 shares of the insurance provider’s stock valued at $54,256,000 after purchasing an additional 26,789 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Torchmark Corporation by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 710,811 shares of the insurance provider’s stock valued at $54,377,000 after purchasing an additional 24,349 shares during the period. 72.19% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, Director Charles E. Adair sold 9,244 shares of Torchmark Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $78.89, for a total transaction of $729,259.16. Following the completion of the sale, the director now directly owns 20,613 shares in the company, valued at approximately $1,626,159.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Gary L. Coleman sold 37,500 shares of Torchmark Corporation stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $83.28, for a total value of $3,123,000.00. Following the sale, the chairman now owns 666,875 shares of the company’s stock, valued at $55,537,350. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,839 shares of company stock valued at $14,668,836. 3.79% of the stock is owned by corporate insiders.
TMK has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Torchmark Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Thursday, October 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 price target on shares of Torchmark Corporation in a research report on Sunday, October 8th. Goldman Sachs Group, Inc. (The) started coverage on Torchmark Corporation in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price target for the company. Barclays PLC raised their price objective on Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a research report on Friday, August 11th. Finally, BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.14.
Shares of Torchmark Corporation (NYSE:TMK) opened at $85.42 on Monday. Torchmark Corporation has a 1 year low of $63.37 and a 1 year high of $86.50. The company has a market capitalization of $9,936.08, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.06 and a current ratio of 0.06.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. Torchmark Corporation had a return on equity of 11.83% and a net margin of 13.80%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $1.15 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. equities analysts predict that Torchmark Corporation will post 4.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.70%. Torchmark Corporation’s dividend payout ratio is 12.77%.
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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