Teacher Retirement System of Texas lowered its stake in Torchmark (NYSE:TMK) by 6.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 178,962 shares of the insurance provider’s stock after selling 13,126 shares during the quarter. Teacher Retirement System of Texas owned about 0.16% of Torchmark worth $15,063,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC acquired a new position in shares of Torchmark in the 1st quarter valued at $122,000. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in shares of Torchmark in the 4th quarter valued at $149,000. Cerebellum GP LLC acquired a new position in shares of Torchmark in the 4th quarter valued at $173,000. YCG LLC acquired a new position in shares of Torchmark in the 4th quarter valued at $204,000. Finally, Capital Management Corp VA acquired a new position in shares of Torchmark in the 4th quarter valued at $204,000. 75.26% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. ValuEngine downgraded Torchmark from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Morgan Stanley dropped their price objective on Torchmark from $84.00 to $82.00 and set an “underweight” rating on the stock in a research note on Thursday, April 5th. Bank of America started coverage on Torchmark in a research note on Monday, March 26th. They set a “buy” rating and a $97.00 price objective on the stock. Zacks Investment Research downgraded Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Finally, UBS started coverage on Torchmark in a research note on Friday, March 2nd. They set a “sell” rating and a $83.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $84.56.
Shares of Torchmark opened at $85.64 on Friday, MarketBeat Ratings reports. The firm has a market cap of $9.73 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.36 and a beta of 0.94. Torchmark has a 12 month low of $74.19 and a 12 month high of $93.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.06 and a current ratio of 0.06.
Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, April 18th. The insurance provider reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.02. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. Torchmark had a return on equity of 10.88% and a net margin of 35.56%. During the same quarter last year, the business posted $1.15 EPS. analysts expect that Torchmark will post 6.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Thursday, July 5th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, July 3rd. Torchmark’s dividend payout ratio (DPR) is presently 13.28%.
In other Torchmark news, VP Michael Clay Majors sold 21,900 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $87.70, for a total transaction of $1,920,630.00. Following the completion of the transaction, the vice president now owns 11,921 shares in the company, valued at approximately $1,045,471.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Frank M. Svoboda sold 12,375 shares of the stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $85.61, for a total value of $1,059,423.75. Following the transaction, the chief financial officer now owns 105,828 shares of the company’s stock, valued at approximately $9,059,935.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,650 shares of company stock valued at $11,248,584. Corporate insiders own 3.68% of the company’s stock.
Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
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