Raymond James Financial Services Advisors Inc. grew its holdings in Torchmark Co. (NYSE:TMK) by 167.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,243 shares of the insurance provider’s stock after acquiring an additional 5,166 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Torchmark were worth $748,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of TMK. Acadian Asset Management LLC boosted its position in shares of Torchmark by 245.8% in the fourth quarter. Acadian Asset Management LLC now owns 667,797 shares of the insurance provider’s stock valued at $60,576,000 after acquiring an additional 474,661 shares during the period. Bank of Montreal Can boosted its position in shares of Torchmark by 141.4% in the fourth quarter. Bank of Montreal Can now owns 251,670 shares of the insurance provider’s stock valued at $22,829,000 after acquiring an additional 147,412 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Torchmark by 739.8% in the third quarter. Teacher Retirement System of Texas now owns 140,980 shares of the insurance provider’s stock valued at $11,291,000 after acquiring an additional 124,193 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Torchmark by 198.6% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 110,549 shares of the insurance provider’s stock valued at $8,854,000 after acquiring an additional 73,523 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in Torchmark by 1,245.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 65,575 shares of the insurance provider’s stock worth $5,948,000 after purchasing an additional 60,700 shares during the period. 74.74% of the stock is owned by institutional investors.
Torchmark Co. (TMK) opened at $86.38 on Wednesday. The company has a market capitalization of $9,850.00, a price-to-earnings ratio of 4.37, a P/E/G ratio of 2.02 and a beta of 0.97. Torchmark Co. has a 12-month low of $73.99 and a 12-month high of $93.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.06 and a quick ratio of 0.06.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 3rd will be paid a dividend of $0.16 per share. This is a positive change from Torchmark’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.74%. The ex-dividend date is Monday, April 2nd. Torchmark’s dividend payout ratio is currently 3.04%.
In other Torchmark news, VP Michael Clay Majors sold 21,900 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $87.70, for a total transaction of $1,920,630.00. Following the completion of the transaction, the vice president now directly owns 11,921 shares in the company, valued at $1,045,471.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Roger C. Smith sold 30,000 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $90.64, for a total value of $2,719,200.00. Following the transaction, the insider now owns 65,685 shares of the company’s stock, valued at $5,953,688.40. The disclosure for this sale can be found here. Insiders have sold 144,525 shares of company stock valued at $12,841,853 over the last quarter. Corporate insiders own 3.79% of the company’s stock.
Several brokerages recently commented on TMK. Zacks Investment Research cut Torchmark from a “buy” rating to a “hold” rating in a research report on Monday. UBS Group began coverage on Torchmark in a research report on Friday, March 2nd. They issued a “sell” rating and a $83.00 target price for the company. ValuEngine raised Torchmark from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Co set a $78.00 target price on Torchmark and gave the stock a “sell” rating in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $83.14.
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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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