Torchmark Corporation (TMK) Stake Increased by State of Wisconsin Investment Board
State of Wisconsin Investment Board raised its position in Torchmark Corporation (NYSE:TMK) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,343 shares of the insurance provider’s stock after buying an additional 6,860 shares during the period. State of Wisconsin Investment Board owned about 0.07% of Torchmark Corporation worth $6,376,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Torchmark Corporation by 2,764.7% in the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock worth $576,118,000 after buying an additional 7,217,094 shares during the last quarter. Janus Capital Management LLC raised its position in Torchmark Corporation by 205.9% in the first quarter. Janus Capital Management LLC now owns 1,139,756 shares of the insurance provider’s stock worth $87,806,000 after buying an additional 767,124 shares during the last quarter. Vanguard Group Inc. raised its position in Torchmark Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock worth $918,194,000 after buying an additional 458,913 shares during the last quarter. State Street Corp raised its position in Torchmark Corporation by 2.6% in the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock worth $450,848,000 after buying an additional 150,546 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Torchmark Corporation by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,196,767 shares of the insurance provider’s stock worth $92,199,000 after buying an additional 127,185 shares during the last quarter. 71.92% of the stock is currently owned by institutional investors and hedge funds.
Torchmark Corporation (NYSE TMK) opened at 76.81 on Wednesday. Torchmark Corporation has a one year low of $62.86 and a one year high of $79.90. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 16.52 and a beta of 0.98. The firm has a 50-day moving average price of $78.23 and a 200-day moving average price of $76.93.
Torchmark Corporation (NYSE:TMK) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, topping the Zacks’ 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 company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $1.11 EPS. Torchmark Corporation’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts expect that Torchmark Corporation will post $4.75 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.78%. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
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A number of research analysts recently weighed in on TMK shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $75.00 target price on shares of Torchmark Corporation in a report on Friday, May 26th. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Friday, May 26th. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, ValuEngine lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Torchmark Corporation currently has a consensus rating of “Hold” and an average price target of $73.00.
In related news, insider John Henry Rogers, Jr. sold 1,875 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $79.25, for a total value of $148,593.75. Following the transaction, the insider now directly owns 1,875 shares of the company’s stock, valued at approximately $148,593.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Arvelia Bowie sold 16,875 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $78.45, for a total value of $1,323,843.75. Following the completion of the transaction, the vice president now directly owns 17,941 shares in the company, valued at $1,407,471.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,821 shares of company stock worth $10,837,593. 3.79% of the stock is owned by insiders.
Torchmark Corporation Company Profile
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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