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.
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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.
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