Torchmark Corporation (TMK) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lowered its position in shares of Torchmark Corporation (NYSE:TMK) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,308 shares of the insurance provider’s stock after selling 960 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Torchmark Corporation were worth $1,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Torchmark Corporation by 1.0% during the second quarter. Vanguard Group Inc. now owns 12,040,805 shares of the insurance provider’s stock worth $921,122,000 after purchasing an additional 122,391 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Torchmark Corporation by 14,667.6% during the second quarter. Janus Henderson Group PLC now owns 2,531,462 shares of the insurance provider’s stock worth $193,657,000 after purchasing an additional 2,514,320 shares during the last quarter. Boston Partners lifted its stake in Torchmark Corporation by 0.9% during the third quarter. Boston Partners now owns 1,884,492 shares of the insurance provider’s stock worth $150,929,000 after purchasing an additional 16,795 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Torchmark Corporation by 11.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,331,664 shares of the insurance provider’s stock worth $101,872,000 after purchasing an additional 134,897 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in Torchmark Corporation by 3.9% during the second quarter. Schroder Investment Management Group now owns 710,904 shares of the insurance provider’s stock worth $54,256,000 after purchasing an additional 26,789 shares during the last quarter. 72.69% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $83.00 price target on shares of Torchmark Corporation in a research note on Friday, November 10th. BidaskClub lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Barclays PLC lifted their price target on Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a research note on Friday, August 11th. Zacks Investment Research raised Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 target price for the company in a research note on Friday, July 28th. Finally, The Goldman Sachs Group, Inc. started coverage on Torchmark Corporation in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 target price for the company. Three equities 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 an average target price of $78.86.

Torchmark Corporation (NYSE TMK) traded down $0.36 during midday trading on Friday, hitting $85.01. The stock had a trading volume of 493,200 shares, compared to its average volume of 437,359. Torchmark Corporation has a 12 month low of $69.15 and a 12 month high of $86.50. The company has a market cap of $9,855.69, a price-to-earnings ratio of 18.05, a PEG 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 results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Torchmark Corporation had a return on equity of 11.60% and a net margin of 13.80%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $1.15 EPS. Torchmark Corporation’s revenue was up 5.7% compared to the same quarter last year. sell-side analysts anticipate that Torchmark Corporation will post 4.8 earnings per share for the current year.

The firm 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. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.60 dividend on an annualized basis and a yield of 0.71%. Torchmark Corporation’s dividend payout ratio is presently 12.77%.

In related news, EVP Vern D. Herbel sold 25,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $83.89, for a total transaction of $2,097,250.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Roger C. Smith sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $84.50, for a total value of $2,535,000.00. Following the transaction, the insider now owns 65,685 shares in the company, valued at approximately $5,550,382.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,085 shares of company stock worth $13,701,414. 3.79% of the stock is owned by company insiders.

TRADEMARK VIOLATION NOTICE: This piece of content was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2017/11/17/torchmark-corporation-tmk-shares-sold-by-lowe-brockenbrough-co-inc.html.

Torchmark Corporation 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.

Institutional Ownership by Quarter for Torchmark Corporation (NYSE:TMK)

Receive News & Ratings for Torchmark Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply