Teacher Retirement System of Texas Has $15.06 Million Stake in Torchmark (TMK)

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 Profile

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.

Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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