BRYN MAWR TRUST Co lessened its holdings in Torchmark Co. (NYSE:TMK) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,247 shares of the insurance provider’s stock after selling 4,800 shares during the quarter. BRYN MAWR TRUST Co’s holdings in Torchmark were worth $3,197,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in shares of Torchmark in the fourth quarter worth $149,000. Fuller & Thaler Asset Management Inc. lifted 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 worth $144,000 after purchasing an additional 700 shares in the last quarter. Cerebellum GP LLC bought a new stake in Torchmark during the fourth quarter worth $173,000. Invictus RG bought a new stake in Torchmark during the third quarter worth $165,000. Finally, YCG LLC bought a new stake in Torchmark during the fourth quarter worth $204,000. 74.74% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on TMK. ValuEngine raised shares of Torchmark from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Wells Fargo set a $78.00 price target on shares of Torchmark and gave the stock a “sell” rating in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Thursday, January 11th. Finally, UBS began coverage on shares of Torchmark in a research report on Friday, March 2nd. They set a “sell” rating and a $83.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Torchmark currently has a consensus rating of “Hold” and a consensus price target of $83.14.
In other news, CFO Frank M. Svoboda sold 12,375 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $86.88, for a total value of $1,075,140.00. Following the transaction, the chief financial officer now directly owns 105,828 shares of the company’s stock, valued at $9,194,336.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Matthew Darden sold 12,750 shares of the 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 completion of the transaction, the executive vice president now directly owns 16,500 shares in the company, valued at $1,499,685. The disclosure for this sale can be found here. Insiders sold 114,525 shares of company stock worth $10,122,653 over the last three months. Insiders own 3.79% of the company’s stock.
Torchmark stock opened at $86.06 on Thursday. The firm has a market cap of $9,747.16, a PE ratio of 7.00, a PEG ratio of 1.98 and a beta of 0.97. Torchmark Co. has a 1 year low of $73.99 and a 1 year high of $93.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.06 and a quick ratio of 0.06.
Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Torchmark had a net margin of 34.99% and a return on equity of 10.81%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. sell-side analysts predict that Torchmark Co. will post 6.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 3rd will be given a $0.16 dividend. The ex-dividend date is Monday, April 2nd. This is a positive change from Torchmark’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 0.74%. Torchmark’s dividend payout ratio is presently 4.88%.
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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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