Meritage Portfolio Management Reduces Position in Torchmark Corporation (NYSE:TMK)

Meritage Portfolio Management decreased its position in Torchmark Corporation (NYSE:TMK) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,181 shares of the insurance provider’s stock after selling 1,476 shares during the quarter. Torchmark makes up 0.7% of Meritage Portfolio Management’s investment portfolio, making the stock its 27th largest position. Meritage Portfolio Management owned 0.07% of Torchmark worth $7,817,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its position in shares of Torchmark by 63.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock valued at $144,000 after acquiring an additional 700 shares during the period. Cerebellum GP LLC purchased a new position in shares of Torchmark in the fourth quarter valued at about $173,000. Invictus RG purchased a new position in shares of Torchmark in the third quarter valued at about $165,000. YCG LLC purchased a new position in shares of Torchmark in the fourth quarter valued at about $204,000. Finally, Assetmark Inc. increased its position in shares of Torchmark by 7,975.0% in the third quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock valued at $181,000 after acquiring an additional 2,233 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

In related news, EVP James Matthew Darden sold 12,750 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $90.89, for a total transaction of $1,158,847.50. Following the sale, the executive vice president now owns 16,500 shares of the company’s stock, valued at $1,499,685. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Roger C. Smith sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $90.64, for a total transaction of $2,719,200.00. Following the sale, the insider now directly owns 65,685 shares in the company, valued at approximately $5,953,688.40. The disclosure for this sale can be found here. Insiders have sold 71,250 shares of company stock worth $6,466,133 in the last quarter. 3.79% of the stock is owned by corporate insiders.

Shares of Torchmark Corporation (NYSE TMK) traded down $0.02 during midday trading on Tuesday, hitting $83.51. 82,343 shares of the company traded hands, compared to its average volume of 688,384. Torchmark Corporation has a one year low of $73.99 and a one year high of $93.60. 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 stock has a market capitalization of $9,540.52, a PE ratio of 6.80, a P/E/G ratio of 1.91 and a beta of 0.93.

Torchmark (NYSE:TMK) last announced its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.01. Torchmark had a net margin of 34.99% and a return on equity of 11.49%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. Torchmark’s quarterly revenue was up 8.4% on a year-over-year basis. equities analysts anticipate that Torchmark Corporation will post 6.04 EPS for the current year.

A number of equities analysts have issued reports on TMK shares. 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 report on Thursday, October 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $83.00 price objective on shares of Torchmark in a research report on Friday, November 10th. Goldman Sachs Group started coverage on shares of Torchmark in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price objective on the stock. 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. Finally, ValuEngine upgraded shares of Torchmark from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $83.17.

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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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