Old Mutual Global Investors UK Ltd. bought a new position in shares of Torchmark Co. (NYSE:TMK) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 151,893 shares of the insurance provider’s stock, valued at approximately $12,784,000. Old Mutual Global Investors UK Ltd. owned 0.13% of Torchmark as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in Torchmark during the 1st quarter worth approximately $122,000. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in shares of Torchmark during the 4th quarter worth approximately $149,000. CNB Bank bought a new position in shares of Torchmark during the 4th quarter worth approximately $204,000. Calamos Advisors LLC bought a new position in shares of Torchmark during the 4th quarter worth approximately $209,000. Finally, Chemical Bank bought a new position in shares of Torchmark during the 4th quarter worth approximately $212,000. Hedge funds and other institutional investors own 73.47% of the company’s stock.
TMK has been the subject of several research reports. Wells Fargo & Co 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. UBS Group began coverage on shares of Torchmark in a research note on Friday, March 2nd. They issued a “sell” rating and a $83.00 target price for the company. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Bank of America began coverage on shares of Torchmark in a research note on Monday, March 26th. They issued a “buy” rating and a $97.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of Torchmark from $84.00 to $82.00 and set an “underweight” rating for the company in a research note on Thursday, April 5th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $84.56.
In other news, Chairman Gary L. Coleman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $84.08, for a total transaction of $420,400.00. Following the transaction, the chairman now directly owns 654,547 shares in the company, valued at approximately $55,034,311.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Henry Rogers, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $86.62, for a total value of $86,620.00. Following 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. Over the last 90 days, insiders have sold 83,750 shares of company stock worth $7,244,154. Insiders own 3.68% of the company’s stock.
Torchmark stock opened at $85.52 on Thursday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.19. Torchmark Co. has a 12-month low of $74.48 and a 12-month high of $93.60. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.
Torchmark (NYSE:TMK) last posted its quarterly earnings data on Wednesday, April 18th. The insurance provider reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.02. Torchmark had a return on equity of 10.88% and a net margin of 35.56%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm posted $1.15 EPS. equities analysts anticipate that Torchmark Co. will post 6.03 earnings per share for the current fiscal year.
The company 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 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, July 3rd. Torchmark’s payout ratio is 13.28%.
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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