TD Asset Management Inc. reduced its position in shares of Torchmark Corporation (NYSE:TMK) by 15.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 866,580 shares of the insurance provider’s stock after selling 158,103 shares during the period. TD Asset Management Inc. owned approximately 0.74% of Torchmark Corporation worth $66,293,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its position in Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock worth $187,000 after buying an additional 69 shares during the last quarter. Global X Management Co. LLC boosted its position in Torchmark Corporation by 539.3% in the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock worth $193,000 after buying an additional 2,114 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Torchmark Corporation during the first quarter worth approximately $205,000. Dai Ichi Life Insurance Company Ltd bought a new position in Torchmark Corporation during the first quarter worth approximately $206,000. Finally, Aull & Monroe Investment Management Corp bought a new position in Torchmark Corporation during the first quarter worth approximately $206,000. 74.74% of the stock is currently owned by institutional investors.
Shares of Torchmark Corporation (TMK) opened at 78.98 on Tuesday. Torchmark Corporation has a 12 month low of $60.92 and a 12 month high of $79.53. The firm has a market cap of $9.24 billion, a PE ratio of 16.97 and a beta of 0.98. The stock’s 50 day moving average is $77.49 and its 200 day moving average is $76.44.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.17 by $0.02. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a return on equity of 11.70% and a net margin of 13.96%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 EPS. On average, analysts anticipate that Torchmark Corporation will post $4.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Wednesday, July 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, June 30th. Torchmark Corporation’s dividend payout ratio (DPR) is 12.88%.
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A number of research analysts have commented on the stock. BidaskClub raised shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $78.00 target price on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Torchmark Corporation from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Monday, June 12th. Finally, ValuEngine raised shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $73.00.
In other news, Director Lloyd W. Newton bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average price of $75.28 per share, for a total transaction of $188,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven John Dichiaro sold 4,500 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $75.08, for a total value of $337,860.00. Following the sale, the insider now owns 12,860 shares of the company’s stock, valued at approximately $965,528.80. The disclosure for this sale can be found here. Insiders sold a total of 92,577 shares of company stock valued at $7,256,884 in the last 90 days. 3.79% of the stock is owned by company insiders.
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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