Meadow Creek Investment Management LLC cut its stake in Torchmark Co. (NYSE:TMK) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,142 shares of the insurance provider’s stock after selling 1,518 shares during the period. Meadow Creek Investment Management LLC’s holdings in Torchmark were worth $1,918,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Torchmark by 1.7% in the fourth quarter. BlackRock Inc. now owns 7,738,856 shares of the insurance provider’s stock worth $701,992,000 after acquiring an additional 131,170 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Torchmark by 30.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,825,563 shares of the insurance provider’s stock worth $165,597,000 after acquiring an additional 426,500 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Torchmark by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,245,814 shares of the insurance provider’s stock worth $112,786,000 after buying an additional 43,407 shares during the last quarter. SPF Beheer BV raised its stake in shares of Torchmark by 6.4% during the third quarter. SPF Beheer BV now owns 906,971 shares of the insurance provider’s stock worth $72,639,000 after buying an additional 54,934 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Torchmark by 2.8% during the fourth quarter. Schroder Investment Management Group now owns 702,432 shares of the insurance provider’s stock worth $63,718,000 after buying an additional 19,274 shares during the last quarter. 74.74% of the stock is owned by institutional investors.
A number of research firms recently weighed in on TMK. Zacks Investment Research downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. UBS began coverage on shares of Torchmark in a research note on Friday, March 2nd. They set a “sell” rating and a $83.00 price target for the company. ValuEngine raised shares of Torchmark from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Wells Fargo set a $78.00 price target on shares of Torchmark and gave the stock a “sell” rating in a research note on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $83.14.
Shares of Torchmark stock opened at $85.59 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market cap of $9,764.27, a P/E ratio of 6.96, a P/E/G ratio of 1.98 and a beta of 0.97. Torchmark Co. has a 12 month low of $73.99 and a 12 month high of $93.60.
Torchmark (NYSE:TMK) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.01. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Torchmark had a net margin of 34.99% and a return on equity of 10.81%. Torchmark’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share. analysts predict that Torchmark Co. will post 6.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 3rd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, April 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 0.75%. This is a boost from Torchmark’s previous quarterly dividend of $0.15. Torchmark’s payout ratio is currently 4.88%.
In related news, VP Michael Clay Majors sold 21,900 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were 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 owns 11,921 shares in the company, valued at $1,045,471.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Frank M. Svoboda sold 12,375 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $86.88, for a total transaction of $1,075,140.00. Following the transaction, the chief financial officer now owns 105,828 shares of the company’s stock, valued at approximately $9,194,336.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,525 shares of company stock valued at $12,841,853. Corporate insiders own 3.79% of the company’s stock.
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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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