Torchmark Corporation (NYSE:TMK) Shares Bought by DnB Asset Management AS

DnB Asset Management AS increased its stake in shares of Torchmark Corporation (NYSE:TMK) by 7.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,822 shares of the insurance provider’s stock after purchasing an additional 1,300 shares during the period. DnB Asset Management AS’s holdings in Torchmark were worth $1,707,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Torchmark by 13.0% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,860 shares of the insurance provider’s stock worth $2,792,000 after acquiring an additional 4,000 shares in the last quarter. Atlantic Trust Group LLC raised its stake in Torchmark by 6.5% during the 3rd quarter. Atlantic Trust Group LLC now owns 53,358 shares of the insurance provider’s stock worth $4,274,000 after acquiring an additional 3,245 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Torchmark by 6.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,592 shares of the insurance provider’s stock valued at $1,889,000 after purchasing an additional 1,518 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Torchmark by 9.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,448 shares of the insurance provider’s stock valued at $1,397,000 after purchasing an additional 1,446 shares during the period. Finally, BlueMountain Capital Management LLC increased its stake in Torchmark by 99.5% in the second quarter. BlueMountain Capital Management LLC now owns 38,259 shares of the insurance provider’s stock valued at $2,927,000 after purchasing an additional 19,085 shares during the period. 72.59% of the stock is owned by hedge funds and other institutional investors.

In other Torchmark news, EVP James Matthew Darden sold 12,750 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $90.89, for a total value of $1,158,847.50. Following the completion of the transaction, the executive vice president now directly owns 16,500 shares in the company, valued at $1,499,685. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Gary L. Coleman sold 37,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 666,875 shares of the company’s stock, valued at $55,537,350. The disclosure for this sale can be found here. In the last three months, insiders have sold 234,335 shares of company stock worth $20,167,546. 3.79% of the stock is owned by corporate insiders.

TMK has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Thursday, October 26th. 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. Goldman Sachs Group assumed coverage on shares of Torchmark in a report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 price objective on the stock. ValuEngine raised shares of Torchmark from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, 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 research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Torchmark presently has a consensus rating of “Hold” and an average price target of $81.67.

Torchmark Corporation (TMK) opened at $92.15 on Monday. Torchmark Corporation has a 52 week low of $72.59 and a 52 week high of $93.34. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22. The firm has a market cap of $10,638.42, a price-to-earnings ratio of 19.61, a PEG ratio of 2.21 and a beta of 1.01.

Torchmark (NYSE:TMK) last issued its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share for the quarter, topping 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 company had revenue of $1.05 billion for 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% compared to the same quarter last year. analysts anticipate that Torchmark Corporation will post 4.8 EPS for the current fiscal year.

The business 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.60 annualized dividend and a yield of 0.65%. Torchmark’s payout ratio is 12.77%.

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Torchmark 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.

Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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