Martingale Asset Management L P boosted its stake in Torchmark Co. (NYSE:TMK) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,821 shares of the insurance provider’s stock after purchasing an additional 14,207 shares during the quarter. Martingale Asset Management L P’s holdings in Torchmark were worth $8,693,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Atlantic Trust Group LLC raised its holdings in shares of Torchmark by 6.5% in the 3rd quarter. Atlantic Trust Group LLC now owns 53,358 shares of the insurance provider’s stock valued at $4,274,000 after acquiring an additional 3,245 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Torchmark by 13.0% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,860 shares of the insurance provider’s stock valued at $2,792,000 after acquiring an additional 4,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Torchmark by 6.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,592 shares of the insurance provider’s stock valued at $1,889,000 after acquiring an additional 1,518 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Torchmark in the 3rd quarter valued at about $447,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Torchmark by 9.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,448 shares of the insurance provider’s stock valued at $1,397,000 after acquiring an additional 1,446 shares in the last quarter. 71.73% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on TMK shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $83.00 price target on shares of Torchmark in a report on Friday, November 10th. ValuEngine raised Torchmark from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Wells Fargo & Co set a $78.00 price target on Torchmark and gave the company a “sell” rating in a report on Wednesday, February 7th. Finally, Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $83.17.
Torchmark Co. (NYSE:TMK) opened at $86.51 on Friday. The firm has a market capitalization of $9,987.32, a PE ratio of 17.99, a P/E/G ratio of 2.00 and a beta of 0.93. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. Torchmark Co. has a 1-year low of $73.99 and a 1-year high of $93.60.
Torchmark (NYSE:TMK) last announced its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Torchmark had a return on equity of 11.49% and a net margin of 34.99%. Torchmark’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.15 EPS. research analysts anticipate that Torchmark Co. will post 6.03 earnings per share for the current year.
In related news, Chairman Gary L. Coleman sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $86.25, for a total transaction of $2,070,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Roger C. Smith sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $90.64, for a total value of $2,719,200.00. Following the transaction, the insider now directly owns 65,685 shares in the company, valued at $5,953,688.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,250 shares of company stock worth $8,536,133. 3.79% of the stock is currently owned by insiders.
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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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