DekaBank Deutsche Girozentrale increased its stake in Torchmark Corporation (NYSE:TMK) by 17.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,050 shares of the insurance provider’s stock after purchasing an additional 5,917 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Torchmark Corporation were worth $3,197,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of TMK. ZWJ Investment Counsel Inc. bought a new position in shares of Torchmark Corporation in the third quarter worth $205,000. Twin Tree Management LP bought a new position in shares of Torchmark Corporation in the second quarter worth $213,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Torchmark Corporation by 21.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock worth $225,000 after purchasing an additional 515 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Torchmark Corporation in the second quarter worth $243,000. Finally, Quantbot Technologies LP bought a new position in shares of Torchmark Corporation in the second quarter worth $252,000. Institutional investors own 73.16% of the company’s stock.
A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $83.00 target price on shares of Torchmark Corporation in a research report on Friday, November 10th. BidaskClub cut Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Barclays PLC lifted their target price on Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 target price on the stock in a research report on Friday, July 28th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on Torchmark Corporation in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $78.86.
Shares of Torchmark Corporation (TMK) opened at $85.27 on Wednesday. Torchmark Corporation has a 12 month low of $69.55 and a 12 month high of $86.50. The company has a market capitalization of $9,822.21, a PE ratio of 17.99, a PEG ratio of 2.47 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 posted 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. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.60% and a net margin of 13.80%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 earnings per share. sell-side analysts anticipate that Torchmark Corporation will post 4.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, January 4th. Torchmark Corporation’s dividend payout ratio is currently 12.77%.
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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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