TD Asset Management Inc. decreased its position in shares of Torchmark Co. (NYSE:TMK) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 798,091 shares of the insurance provider’s stock after selling 7,599 shares during the period. TD Asset Management Inc.’s holdings in Torchmark were worth $65,404,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in TMK. Great Lakes Advisors LLC increased its stake in Torchmark by 7.5% in the first quarter. Great Lakes Advisors LLC now owns 161,472 shares of the insurance provider’s stock valued at $13,232,000 after acquiring an additional 11,285 shares during the period. ETF Managers Group LLC increased its stake in Torchmark by 10.3% in the first quarter. ETF Managers Group LLC now owns 1,707 shares of the insurance provider’s stock valued at $140,000 after acquiring an additional 160 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Torchmark by 5.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,929 shares of the insurance provider’s stock valued at $486,000 after acquiring an additional 331 shares during the period. Stratos Wealth Advisors LLC bought a new stake in Torchmark in the first quarter valued at about $214,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in Torchmark by 2.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,341 shares of the insurance provider’s stock valued at $601,000 after acquiring an additional 208 shares during the period. 76.56% of the stock is owned by hedge funds and other institutional investors.
Torchmark stock traded up $0.96 during trading hours on Tuesday, hitting $89.26. 3,980 shares of the stock were exchanged, compared to its average volume of 501,008. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 1.65 and a beta of 1.01. Torchmark Co. has a 12 month low of $69.68 and a 12 month high of $91.28.
Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.05. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Torchmark had a net margin of 16.37% and a return on equity of 12.75%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 earnings per share. As a group, equities research analysts predict that Torchmark Co. will post 6.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a dividend of $0.1725 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.69 annualized dividend and a yield of 0.77%. Torchmark’s dividend payout ratio is 11.26%.
Separately, Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.00.
In other Torchmark news, CEO Gary L. Coleman sold 12,000 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $83.60, for a total transaction of $1,003,200.00. Following the sale, the chief executive officer now directly owns 661,547 shares of the company’s stock, valued at $55,305,329.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Ingram sold 290 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $87.85, for a total transaction of $25,476.50. The disclosure for this sale can be found here. Insiders have sold 274,632 shares of company stock worth $23,573,223 over the last ninety days. Insiders own 3.64% of the company’s stock.
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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, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.
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