Russell Investments Group Ltd. lowered its position in Torchmark Co. (NYSE:TMK) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,287 shares of the insurance provider’s stock after selling 13,935 shares during the period. Russell Investments Group Ltd. owned about 0.24% of Torchmark worth $23,366,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. Advisor Partners LLC lifted its position in shares of Torchmark by 12.1% during the 2nd quarter. Advisor Partners LLC now owns 5,988 shares of the insurance provider’s stock valued at $487,000 after acquiring an additional 645 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Torchmark by 17.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,587 shares of the insurance provider’s stock valued at $374,000 after acquiring an additional 667 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Torchmark by 4.2% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,392 shares of the insurance provider’s stock valued at $1,334,000 after acquiring an additional 668 shares during the period. Global X Management Co LLC lifted its position in shares of Torchmark by 17.1% during the 2nd quarter. Global X Management Co LLC now owns 5,046 shares of the insurance provider’s stock valued at $411,000 after acquiring an additional 736 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its position in shares of Torchmark by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 17,184 shares of the insurance provider’s stock valued at $1,399,000 after acquiring an additional 737 shares during the period. Hedge funds and other institutional investors own 74.27% of the company’s stock.
Shares of Torchmark stock opened at $85.87 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.05 and a quick ratio of 0.05. Torchmark Co. has a 1 year low of $80.34 and a 1 year high of $93.60. The company has a market cap of $9.51 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.01 and a beta of 0.86.
Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.06. Torchmark had a return on equity of 11.53% and a net margin of 36.42%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. On average, analysts forecast that Torchmark Co. will post 6.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, October 5th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $0.64 annualized dividend and a dividend yield of 0.75%. Torchmark’s dividend payout ratio is currently 13.28%.
In related news, insider Bill Leavell sold 187,500 shares of Torchmark stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $88.10, for a total transaction of $16,518,750.00. Following the completion of the transaction, the insider now directly owns 18,750 shares in the company, valued at approximately $1,651,875. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Larry M. Hutchison sold 12,250 shares of Torchmark stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $88.35, for a total value of $1,082,287.50. Following the transaction, the chief executive officer now owns 553,987 shares of the company’s stock, valued at $48,944,751.45. The disclosure for this sale can be found here. Insiders have sold a total of 367,454 shares of company stock valued at $32,412,768 over the last 90 days. Insiders own 3.68% of the company’s stock.
A number of equities research analysts have recently issued reports on TMK shares. Zacks Investment Research downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Morgan Stanley lifted their price target on shares of Torchmark from $80.00 to $81.00 and gave the company an “underweight” rating in a research report on Thursday, July 26th. Goldman Sachs Group downgraded shares of Torchmark from a “neutral” rating to a “sell” rating and reduced their price target for the company from $92.00 to $78.00 in a research report on Monday, September 10th. Finally, SunTrust Banks reduced their price target on shares of Torchmark from $89.00 to $84.00 and set a “hold” rating for the company in a research report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.25.
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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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