Federated Investors Inc. PA Has $413,000 Position in Torchmark Co. (TMK)

Federated Investors Inc. PA reduced its position in Torchmark Co. (NYSE:TMK) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,594 shares of the insurance provider’s stock after selling 704 shares during the period. Federated Investors Inc. PA’s holdings in Torchmark were worth $413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TMK. Equity Investment Corp Acquisition Inc bought a new stake in Torchmark during the fourth quarter valued at $68,376,000. Victory Capital Management Inc. increased its stake in Torchmark by 4,035.5% in the third quarter. Victory Capital Management Inc. now owns 475,786 shares of the insurance provider’s stock valued at $30,398,000 after buying an additional 464,281 shares in the last quarter. State Street Corp increased its stake in Torchmark by 8.0% in the fourth quarter. State Street Corp now owns 5,701,513 shares of the insurance provider’s stock valued at $420,547,000 after buying an additional 423,222 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Torchmark during the fourth quarter valued at $8,924,000. Finally, BlackRock Fund Advisors increased its stake in Torchmark by 5.0% in the third quarter. BlackRock Fund Advisors now owns 1,997,773 shares of the insurance provider’s stock valued at $127,638,000 after buying an additional 94,802 shares in the last quarter. 73.68% of the stock is currently owned by hedge funds and other institutional investors.

Torchmark Co. (NYSE:TMK) traded up 0.43% during trading on Friday, reaching $76.33. 748,392 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $76.89 and a 200 day moving average price of $72.64. Torchmark Co. has a 52 week low of $56.52 and a 52 week high of $79.53. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 16.99 and a beta of 0.99.

Torchmark (NYSE:TMK) last announced its quarterly earnings data on Wednesday, April 19th. The insurance provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.01. The firm earned $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Torchmark had a return on equity of 11.52% and a net margin of 13.95%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. Equities research analysts forecast that Torchmark Co. will post $4.69 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 3rd will be paid a $0.15 dividend. This is an increase from Torchmark’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.79%. The ex-dividend date is Thursday, March 30th. Torchmark’s dividend payout ratio is currently 12.42%.

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Several analysts have weighed in on TMK shares. Zacks Investment Research downgraded shares of Torchmark from a “hold” rating to a “sell” rating in a research report on Wednesday, December 28th. Barclays PLC restated a “sell” rating and set a $65.00 price objective on shares of Torchmark in a research note on Monday, January 9th. Evercore ISI cut shares of Torchmark from a “hold” rating to a “sell” rating and set a $70.00 price objective for the company. in a research note on Wednesday, January 11th. Deutsche Bank AG lifted their price objective on shares of Torchmark from $60.00 to $69.00 and gave the company a “hold” rating in a research note on Monday, January 23rd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $75.00 price objective on shares of Torchmark in a research note on Friday. Six equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $67.11.

In other Torchmark news, insider Michael Shane Henrie sold 8,437 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $74.41, for a total value of $627,797.17. Following the transaction, the insider now directly owns 1,687 shares of the company’s stock, valued at approximately $125,529.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Henry Rogers, Jr. sold 1,500 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $78.53, for a total value of $117,795.00. Following the completion of the transaction, the insider now directly owns 1,500 shares in the company, valued at $117,795. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,028 shares of company stock valued at $8,844,204. Company insiders own 3.96% of the company’s stock.

Torchmark Company Profile

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.