DnB Asset Management AS lifted its position in Torchmark Corporation (NYSE:TMK) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,822 shares of the insurance provider’s stock after acquiring an additional 1,300 shares during the quarter. DnB Asset Management AS’s holdings in Torchmark were worth $1,707,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. grew its position in shares of Torchmark by 63.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 700 shares in the last quarter. Invictus RG acquired a new position in shares of Torchmark in the 3rd quarter worth approximately $165,000. Assetmark Inc. grew its position in shares of Torchmark by 7,975.0% in the 3rd quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock worth $181,000 after acquiring an additional 2,233 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new position in shares of Torchmark in the 3rd quarter worth approximately $205,000. Finally, Quantbot Technologies LP acquired a new position in shares of Torchmark in the 2nd quarter worth approximately $252,000. Institutional investors own 72.46% of the company’s stock.
Torchmark Corporation (NYSE TMK) opened at $92.25 on Monday. Torchmark Corporation has a 12-month low of $72.59 and a 12-month high of $93.34. The stock has a market capitalization of $10,649.99, a P/E ratio of 19.63, a P/E/G ratio of 2.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.06 and a current ratio of 0.06.
Torchmark (NYSE:TMK) last released its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.03. Torchmark had a return on equity of 11.60% and a net margin of 13.80%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. equities analysts forecast that Torchmark Corporation will post 4.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.60 dividend on an annualized basis and a yield of 0.65%. Torchmark’s dividend payout ratio is currently 12.77%.
Several research analysts have recently commented on TMK shares. Zacks Investment Research lowered Torchmark from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 target price on shares of Torchmark in a research report on Sunday, October 8th. SunTrust Banks lifted their target price on Torchmark from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Goldman Sachs Group initiated coverage on Torchmark in a research report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 price objective for the company. Finally, ValuEngine upgraded Torchmark from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Torchmark presently has an average rating of “Hold” and an average price target of $81.67.
In other Torchmark news, insider Kenneth J. Matson sold 28,500 shares of Torchmark stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $90.81, for a total transaction of $2,588,085.00. Following the sale, the insider now owns 15,056 shares of the company’s stock, valued at approximately $1,367,235.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Clay Majors sold 7,500 shares of Torchmark stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $84.71, for a total value of $635,325.00. Following the sale, the vice president now directly owns 10,760 shares in the company, valued at approximately $911,479.60. The disclosure for this sale can be found here. Insiders have sold a total of 234,335 shares of company stock valued at $20,167,546 in the last 90 days. Insiders own 3.79% of the company’s stock.
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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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