State Street Corp lowered its stake in shares of Torchmark Corporation (NYSE:TMK) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,622,698 shares of the insurance provider’s stock after selling 229,361 shares during the quarter. State Street Corp owned about 4.83% of Torchmark Corporation worth $430,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its position in shares of Torchmark Corporation by 4.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 14,880 shares of the insurance provider’s stock valued at $1,147,000 after buying an additional 610 shares during the period. BlackRock Inc. increased its position in shares of Torchmark Corporation by 2,764.7% during the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock valued at $576,118,000 after buying an additional 7,217,094 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Torchmark Corporation during the second quarter valued at about $1,727,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Torchmark Corporation by 21.5% during the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 19,914 shares of the insurance provider’s stock valued at $1,523,000 after buying an additional 3,520 shares during the period. Finally, Girard Partners LTD. increased its position in shares of Torchmark Corporation by 0.3% during the second quarter. Girard Partners LTD. now owns 3,844 shares of the insurance provider’s stock valued at $294,000 after buying an additional 12 shares during the period. Institutional investors own 71.93% of the company’s stock.
In other Torchmark Corporation news, insider John Henry Rogers, Jr. sold 1,875 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $79.25, for a total transaction of $148,593.75. Following the transaction, the insider now owns 1,875 shares of the company’s stock, valued at approximately $148,593.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven John Dichiaro sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $79.02, for a total transaction of $1,027,260.00. Following the transaction, the insider now directly owns 21,360 shares in the company, valued at approximately $1,687,867.20. 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 in the last three months. Insiders own 3.79% of the company’s stock.
Shares of Torchmark Corporation (NYSE TMK) opened at 81.50 on Friday. Torchmark Corporation has a 1-year low of $62.86 and a 1-year high of $81.62. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 18.14 and a beta of 1.00. The company’s 50-day moving average is $78.41 and its 200 day moving average is $77.22.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 EPS. Equities analysts anticipate that Torchmark Corporation will post $4.75 EPS for the current year.
The firm 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. This represents a $0.60 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, October 5th. Torchmark Corporation’s dividend payout ratio (DPR) is 12.88%.
Several brokerages recently issued reports on TMK. BidaskClub upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Torchmark Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $78.00 price target on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $74.40.
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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