Prudential Financial Inc. trimmed its holdings in shares of Torchmark Corporation (NYSE:TMK) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,793 shares of the insurance provider’s stock after selling 590 shares during the period. Prudential Financial Inc. owned approximately 0.13% of Torchmark Corporation worth $11,689,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of TMK. Bronfman E.L. Rothschild L.P. increased its position in Torchmark Corporation by 2.9% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock worth $187,000 after purchasing an additional 69 shares during the last quarter. Global X Management Co. LLC increased its position in Torchmark Corporation by 539.3% in the 1st quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock worth $193,000 after purchasing an additional 2,114 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Torchmark Corporation in the 1st quarter worth about $205,000. Dai Ichi Life Insurance Company Ltd acquired a new position in Torchmark Corporation in the 1st quarter worth about $206,000. Finally, Warren Averett Asset Management LLC acquired a new position in Torchmark Corporation in the 1st quarter worth about $207,000. 71.94% of the stock is currently owned by hedge funds and other institutional investors.
Torchmark Corporation (NYSE:TMK) opened at 76.07 on Monday. The stock’s 50 day moving average price is $77.84 and its 200-day moving average price is $76.98. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 16.36 and a beta of 0.98. Torchmark Corporation has a one year low of $62.86 and a one year high of $79.90.
Torchmark Corporation (NYSE:TMK) last released its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. Torchmark Corporation’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. Analysts forecast that Torchmark Corporation will post $4.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, October 5th. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
In other Torchmark Corporation news, EVP Vern D. Herbel sold 27,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $78.62, for a total transaction of $2,162,050.00. Following the transaction, the executive vice president now owns 56,943 shares of the company’s stock, valued at $4,476,858.66. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles E. Adair sold 9,244 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $78.89, for a total value of $729,259.16. Following the transaction, the director now directly owns 20,613 shares in the company, valued at approximately $1,626,159.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,821 shares of company stock worth $10,837,593. 3.79% of the stock is owned by company insiders.
TMK has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $75.00 target price on shares of Torchmark Corporation in a research report on Friday, May 26th. Zacks Investment Research lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, ValuEngine lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $73.00.
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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