Mitsubishi UFJ Trust & Banking Corp lessened its position in Torchmark Corporation (NYSE:TMK) by 0.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 231,469 shares of the insurance provider’s stock after selling 1,660 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.20% of Torchmark worth $18,538,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Torchmark by 63.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 700 shares during the period. Assetmark Inc. lifted its stake in shares of Torchmark by 7,975.0% in the 3rd quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock worth $181,000 after acquiring an additional 2,233 shares during the period. ZWJ Investment Counsel Inc. acquired a new stake in shares of Torchmark in the 3rd quarter worth $205,000. Twin Tree Management LP acquired a new stake in shares of Torchmark in the 2nd quarter worth $213,000. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in shares of Torchmark by 21.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock worth $225,000 after acquiring an additional 515 shares during the period. Institutional investors own 72.69% of the company’s stock.
Shares of Torchmark Corporation (TMK) traded up $0.78 during midday trading on Friday, hitting $89.95. 401,200 shares of the company traded hands, compared to its average volume of 486,968. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06. Torchmark Corporation has a 12-month low of $72.59 and a 12-month high of $90.32. The firm has a market capitalization of $10,294.39, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.59 and a beta of 1.02.
Torchmark (NYSE:TMK) last announced its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Torchmark had a net margin of 13.80% and a return on equity of 11.60%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $1.15 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. research analysts forecast that Torchmark Corporation will post 4.8 earnings per share 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 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, January 4th. Torchmark’s dividend payout ratio (DPR) is 12.77%.
In related news, Director Paul J. Zucconi sold 595 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $85.07, for a total value of $50,616.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gary L. Coleman sold 37,500 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $83.28, for a total transaction of $3,123,000.00. Following the completion of the sale, the chairman now owns 666,875 shares of the company’s stock, valued at approximately $55,537,350. The disclosure for this sale can be found here. Insiders sold 163,085 shares of company stock valued at $13,701,414 in the last quarter. Company insiders own 3.79% of the company’s stock.
TMK has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $78.00 target price on shares of Torchmark in a research note on Sunday, October 8th. SunTrust Banks raised their target price on shares of Torchmark from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, Goldman Sachs Group initiated coverage on shares of Torchmark in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.86.
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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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