Wells Fargo & Company MN increased its stake in Torchmark Co. (NYSE:TMK) by 10.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,552 shares of the insurance provider’s stock after acquiring an additional 17,334 shares during the quarter. Wells Fargo & Company MN’s holdings in Torchmark were worth $15,566,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Stratos Wealth Partners LTD. acquired a new position in shares of Torchmark in the third quarter worth approximately $194,000. Daiwa Securities Group Inc. lifted its stake in shares of Torchmark by 7.6% in the third quarter. Daiwa Securities Group Inc. now owns 59,938 shares of the insurance provider’s stock worth $5,196,000 after acquiring an additional 4,243 shares during the period. Parallel Advisors LLC lifted its stake in shares of Torchmark by 118.8% in the third quarter. Parallel Advisors LLC now owns 1,726 shares of the insurance provider’s stock worth $150,000 after acquiring an additional 937 shares during the period. WBI Investments Inc. acquired a new position in shares of Torchmark in the third quarter worth approximately $1,536,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Torchmark by 6.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 162,439 shares of the insurance provider’s stock worth $14,081,000 after acquiring an additional 9,661 shares during the period. 74.52% of the stock is currently owned by institutional investors.
A number of research firms recently commented on TMK. Morgan Stanley lifted their price objective on Torchmark from $81.00 to $83.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 13th. Zacks Investment Research lowered Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. SunTrust Banks cut their price objective on Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Finally, Goldman Sachs Group lowered Torchmark from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $92.00 to $78.00 in a research note on Monday, September 10th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $85.86.
In other Torchmark news, insider John Henry Rogers, Jr. sold 1,875 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $88.16, for a total value of $165,300.00. Following the transaction, the insider now directly owns 1,875 shares of the company’s stock, valued at $165,300. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Frank M. Svoboda sold 12,375 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $87.70, for a total value of $1,085,287.50. Following the completion of the transaction, the chief financial officer now directly owns 105,828 shares in the company, valued at $9,281,115.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,461 shares of company stock worth $1,268,301. Insiders own 3.68% of the company’s stock.
Shares of TMK opened at $82.22 on Thursday. Torchmark Co. has a 52-week low of $80.34 and a 52-week high of $93.60. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 0.98 and a beta of 0.86.
Torchmark (NYSE:TMK) last issued its quarterly earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.06. Torchmark had a return on equity of 11.70% and a net margin of 36.42%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. Equities analysts predict that Torchmark Co. will post 6.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Friday, January 4th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.78%. The ex-dividend date is Thursday, January 3rd. Torchmark’s dividend payout ratio (DPR) is presently 13.28%.
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Torchmark Company 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.
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