Allianz Asset Management GmbH boosted its stake in Torchmark Co. (NYSE:TMK) by 24.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,041 shares of the insurance provider’s stock after buying an additional 3,749 shares during the quarter. Allianz Asset Management GmbH’s holdings in Torchmark were worth $1,728,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of TMK. Acadian Asset Management LLC raised its holdings in Torchmark by 245.8% in the 4th 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 last quarter. Citadel Advisors LLC raised its holdings in Torchmark by 136.8% in the 4th quarter. Citadel Advisors LLC now owns 446,848 shares of the insurance provider’s stock valued at $40,534,000 after acquiring an additional 258,183 shares during the last quarter. Bank of Montreal Can raised its holdings in Torchmark by 141.4% in the 4th 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 last quarter. BlackRock Inc. raised its holdings in Torchmark by 1.7% in the 4th quarter. BlackRock Inc. now owns 7,738,856 shares of the insurance provider’s stock valued at $701,992,000 after acquiring an additional 131,170 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Torchmark by 1,245.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 65,575 shares of the insurance provider’s stock valued at $5,948,000 after acquiring an additional 60,700 shares during the last quarter. 74.74% of the stock is currently owned by hedge funds and other institutional investors.
TMK has been the subject of several analyst reports. Zacks Investment Research downgraded Torchmark from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. ValuEngine upgraded Torchmark from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Wells Fargo set a $78.00 price target on Torchmark and gave the company a “sell” rating in a report on Wednesday, February 7th. Finally, UBS initiated coverage on Torchmark in a report on Friday, March 2nd. They issued a “sell” rating and a $83.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Torchmark currently has a consensus rating of “Hold” and an average price target of $83.14.
Shares of TMK stock opened at $80.91 on Friday. The company has a market capitalization of $9,817.89, a price-to-earnings ratio of 6.58, a PEG ratio of 1.78 and a beta of 0.97. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18. Torchmark Co. has a twelve month low of $73.99 and a twelve month high of $93.60.
Torchmark (NYSE:TMK) last released its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 10.81% and a net margin of 34.99%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 EPS. research analysts predict that Torchmark Co. will post 6.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 3rd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Torchmark’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, April 2nd. Torchmark’s dividend payout ratio is presently 4.88%.
In other news, CFO Frank M. Svoboda sold 12,375 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $86.88, for a total transaction of $1,075,140.00. Following the completion of the sale, the chief financial officer now directly owns 105,828 shares in the company, valued at approximately $9,194,336.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth J. Matson sold 28,500 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $90.81, for a total value of $2,588,085.00. Following the sale, the insider now owns 15,056 shares of the company’s stock, valued at $1,367,235.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,525 shares of company stock valued at $10,122,653. 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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