Amundi Pioneer Asset Management Inc. raised its position in Torchmark Co. (NYSE:TMK) by 8.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,249 shares of the insurance provider’s stock after buying an additional 4,804 shares during the period. Amundi Pioneer Asset Management Inc. owned about 0.06% of Torchmark worth $5,323,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of TMK. Signaturefd LLC acquired a new stake in Torchmark in the 1st quarter worth about $122,000. CNB Bank acquired a new position in shares of Torchmark during the 4th quarter worth approximately $204,000. Calamos Advisors LLC acquired a new position in shares of Torchmark during the 4th quarter worth approximately $209,000. IBM Retirement Fund acquired a new position in shares of Torchmark during the 1st quarter worth approximately $211,000. Finally, Chemical Bank acquired a new position in shares of Torchmark during the 4th quarter worth approximately $212,000. Institutional investors own 73.57% of the company’s stock.
TMK has been the topic of several recent research reports. UBS Group initiated coverage on Torchmark in a report on Friday, March 2nd. They set a “sell” rating and a $83.00 target price on the stock. Zacks Investment Research cut Torchmark from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Bank of America initiated coverage on Torchmark in a report on Monday, March 26th. They set a “buy” rating and a $97.00 target price on the stock. Morgan Stanley lowered their target price on Torchmark from $84.00 to $82.00 and set an “underweight” rating on the stock in a report on Thursday, April 5th. Finally, ValuEngine upgraded Torchmark from a “hold” rating to a “buy” rating in a report on Thursday, April 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $84.56.
Torchmark opened at $81.41 on Friday, according to Marketbeat Ratings. Torchmark Co. has a one year low of $74.48 and a one year high of $93.60. The company has a market capitalization of $9.24 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 1.04 and a beta of 0.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.06 and a current ratio of 0.06.
Torchmark (NYSE:TMK) last released its quarterly earnings data on Wednesday, April 18th. The insurance provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.02. Torchmark had a return on equity of 10.88% and a net margin of 35.56%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. analysts anticipate that Torchmark Co. will post 6.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Thursday, July 5th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Tuesday, July 3rd. Torchmark’s dividend payout ratio is presently 13.28%.
In related news, CEO Larry M. Hutchison sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, April 23rd. The stock was sold at an average price of $87.07, for a total value of $783,630.00. Following the transaction, the chief executive officer now directly owns 531,603 shares in the company, valued at $46,286,673.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Henry Rogers, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $86.62, for a total value of $86,620.00. Following the completion of the transaction, the insider now owns 1,000 shares in the company, valued at $86,620. The disclosure for this sale can be found here. Insiders sold 104,375 shares of company stock worth $9,005,254 over the last quarter. 3.68% of the stock is currently owned by insiders.
Torchmark Company Profile
Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
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