Ladenburg Thalmann Financial Services Inc. lessened its position in Torchmark Corporation (NYSE:TMK) by 21.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,439 shares of the insurance provider’s stock after selling 8,631 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Torchmark were worth $2,599,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of TMK. Tiedemann Wealth Management LLC lifted its stake in shares of Torchmark by 8.0% in the third quarter. Tiedemann Wealth Management LLC now owns 16,147 shares of the insurance provider’s stock worth $127,000 after buying an additional 1,201 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Torchmark by 63.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock valued at $144,000 after purchasing an additional 700 shares during the last quarter. Invictus RG purchased a new position in shares of Torchmark during the third quarter valued at approximately $165,000. Assetmark Inc. raised its holdings in shares of Torchmark by 7,975.0% during the third quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock valued at $181,000 after purchasing an additional 2,233 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. purchased a new position in shares of Torchmark during the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 72.69% of the company’s stock.
In other Torchmark news, EVP James Eric Mcpartland sold 5,115 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $85.56, for a total transaction of $437,639.40. Following the completion of the sale, the executive vice president now directly owns 7,000 shares of the company’s stock, valued at $598,920. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Gary L. Coleman sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were 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 $55,537,350. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,085 shares of company stock valued at $13,701,414. 3.79% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on TMK shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $83.00 price objective on shares of Torchmark in a report on Friday, November 10th. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “hold” rating in a report on Monday, September 11th. SunTrust Banks boosted 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, BidaskClub cut shares of Torchmark from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $78.86.
Torchmark Corporation (NYSE TMK) traded up $0.75 on Friday, hitting $89.61. 991,492 shares of the stock traded hands, compared to its average volume of 489,353. Torchmark Corporation has a 1 year low of $72.59 and a 1 year high of $90.35. The stock has a market capitalization of $10,258.60, a PE ratio of 18.79, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06.
Torchmark (NYSE:TMK) last announced its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, beating the Zacks’ 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 business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $1.15 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. equities analysts predict that Torchmark Corporation will post 4.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.60 dividend on an annualized basis and a yield of 0.67%. Torchmark’s dividend payout ratio is currently 12.77%.
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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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