Toronto Dominion Bank trimmed its stake in shares of Torchmark Corporation (NYSE:TMK) by 48.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,160 shares of the insurance provider’s stock after selling 38,332 shares during the period. Toronto Dominion Bank’s holdings in Torchmark were worth $3,297,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in TMK. ZWJ Investment Counsel Inc. acquired a new position in Torchmark in the third quarter valued at approximately $205,000. Twin Tree Management LP acquired a new position in Torchmark in the second quarter valued at approximately $213,000. Bronfman E.L. Rothschild L.P. lifted its holdings in Torchmark by 21.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock valued at $225,000 after buying an additional 515 shares during the period. Contravisory Investment Management Inc. acquired a new position in Torchmark in the second quarter valued at approximately $243,000. Finally, Quantbot Technologies LP acquired a new position in Torchmark in the second quarter valued at approximately $252,000. Institutional investors own 72.69% of the company’s stock.
Shares of Torchmark Corporation (TMK) traded up $0.14 during trading hours on Thursday, reaching $89.17. 290,518 shares of the company’s stock traded hands, compared to its average volume of 441,310. Torchmark Corporation has a 1 year low of $72.59 and a 1 year high of $90.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market capitalization of $10,270.00, a P/E ratio of 18.82, a PEG ratio of 2.58 and a beta of 1.02.
Torchmark (NYSE:TMK) last issued its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Torchmark had a net margin of 13.80% and a return on equity of 11.60%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. equities analysts forecast that Torchmark Corporation will post 4.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, January 4th. Torchmark’s payout ratio is presently 12.93%.
In other news, EVP Vern D. Herbel sold 25,000 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $83.89, for a total transaction of $2,097,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Gary L. Coleman sold 37,500 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $83.28, for a total transaction of $3,123,000.00. Following the sale, the chairman now directly owns 666,875 shares of the company’s stock, valued at approximately $55,537,350. The disclosure for this sale can be found here. Insiders sold 163,085 shares of company stock valued at $13,701,414 in the last ninety days. Insiders own 3.79% of the company’s stock.
Several equities analysts recently weighed in on TMK shares. Zacks Investment Research lowered shares of Torchmark from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $78.00 price objective on shares of Torchmark in a report on Sunday, October 8th. SunTrust Banks increased their price objective on shares of Torchmark from $75.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Goldman Sachs Group started coverage on shares of Torchmark in a report on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $78.86.
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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.
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