LS Investment Advisors LLC lowered its stake in shares of Torchmark Corp. (NYSE:TMK) by 13.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,461 shares of the company’s stock after selling 4,213 shares during the period. LS Investment Advisors LLC’s holdings in Torchmark Corp. were worth $1,636,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its position in shares of Torchmark Corp. by 7.7% in the second quarter. State of Alaska Department of Revenue now owns 2,542 shares of the company’s stock worth $157,000 after buying an additional 181 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Torchmark Corp. by 617.8% in the first quarter. Bessemer Group Inc. now owns 3,589 shares of the company’s stock worth $194,000 after buying an additional 3,089 shares during the last quarter. Capital Investment Services of America Inc. acquired a new position in shares of Torchmark Corp. during the second quarter worth approximately $214,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Torchmark Corp. during the first quarter worth approximately $215,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Torchmark Corp. during the first quarter worth approximately $359,000. 75.52% of the stock is owned by institutional investors and hedge funds.
Shares of Torchmark Corp. (NYSE:TMK) remained flat at $64.38 during trading on Friday. 370,193 shares of the company were exchanged. Torchmark Corp. has a one year low of $48.47 and a one year high of $65.60. The firm has a market cap of $7.71 billion, a P/E ratio of 14.81 and a beta of 1.06. The firm has a 50 day moving average price of $64.13 and a 200 day moving average price of $60.46.
Torchmark Corp. (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.02. The firm had revenue of $992 million for the quarter, compared to analyst estimates of $979.43 million. Torchmark Corp. had a net margin of 13.85% and a return on equity of 12.19%. Torchmark Corp.’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. On average, analysts anticipate that Torchmark Corp. will post $4.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.56 dividend on an annualized basis and a yield of 0.87%. Torchmark Corp.’s payout ratio is presently 12.84%.
TMK has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Torchmark Corp. from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Wednesday, June 29th. Evercore ISI initiated coverage on shares of Torchmark Corp. in a report on Wednesday, July 6th. They issued a “hold” rating and a $63.00 price target for the company. Deutsche Bank AG increased their price target on shares of Torchmark Corp. from $56.00 to $59.00 and gave the company a “hold” rating in a report on Friday, July 29th. Citigroup Inc. increased their price target on shares of Torchmark Corp. from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Finally, Bank of America Corp. raised shares of Torchmark Corp. from an “underperform” rating to a “neutral” rating in a report on Wednesday, June 29th. Five research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.17.
In other Torchmark Corp. news, insider John Henry Rogers, Jr. sold 875 shares of the business’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $65.03, for a total value of $56,901.25. Following the transaction, the insider now directly owns 875 shares in the company, valued at approximately $56,901.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Clay Majors sold 5,075 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $61.89, for a total transaction of $314,091.75. Following the completion of the transaction, the vice president now owns 9,462 shares in the company, valued at $585,603.18. The disclosure for this sale can be found here. Corporate insiders own 3.96% of the company’s stock.
About Torchmark Corp.
Torchmark Corporation is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance.
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