Boston Advisors LLC held its position in Torchmark Corp. (NYSE:TMK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,125 shares of the company’s stock at the end of the second quarter. Boston Advisors LLC’s holdings in Torchmark Corp. were worth $255,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the company. RS Investment Management Co. LLC raised its position in Torchmark Corp. by 3.2% in the second quarter. RS Investment Management Co. LLC now owns 471,240 shares of the company’s stock worth $29,132,000 after buying an additional 14,475 shares during the last quarter. Geode Capital Management LLC raised its position in Torchmark Corp. by 0.4% in the first quarter. Geode Capital Management LLC now owns 956,016 shares of the company’s stock worth $51,674,000 after buying an additional 3,607 shares during the last quarter. Nuveen Asset Management LLC raised its position in Torchmark Corp. by 22.4% in the first quarter. Nuveen Asset Management LLC now owns 35,310 shares of the company’s stock worth $1,912,000 after buying an additional 6,469 shares during the last quarter. Norges Bank acquired a new position in Torchmark Corp. during the fourth quarter worth $7,663,000. Finally, Fisher Asset Management LLC raised its position in Torchmark Corp. by 0.6% in the second quarter. Fisher Asset Management LLC now owns 239,851 shares of the company’s stock worth $14,741,000 after buying an additional 1,339 shares during the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.
Shares of Torchmark Corp. (NYSE:TMK) remained flat at $64.38 during midday trading on Friday. The company had a trading volume of 370,193 shares. The company’s 50 day moving average price is $64.13 and its 200 day moving average price is $60.46. Torchmark Corp. has a one year low of $48.47 and a one year high of $65.60. The company has a market capitalization of $7.71 billion, a PE ratio of 14.81 and a beta of 1.06.
Torchmark Corp. (NYSE:TMK) last posted its earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.02. Torchmark Corp. had a net margin of 13.85% and a return on equity of 12.19%. The firm earned $992 million during the quarter, compared to the consensus estimate of $979.43 million. During the same period last year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts forecast that Torchmark Corp. will post $4.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.56 annualized dividend and a yield of 0.87%. Torchmark Corp.’s dividend payout ratio (DPR) is currently 12.84%.
A number of equities analysts recently weighed in on TMK shares. Wells Fargo & Co. restated an “underperform” rating on shares of Torchmark Corp. in a research report on Friday, September 23rd. Zacks Investment Research upgraded shares of Torchmark Corp. from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, September 27th. Evercore ISI started coverage on shares of Torchmark Corp. in a report on Wednesday, July 6th. They issued a “hold” rating and a $63.00 target price on the stock. RBC Capital Markets reiterated an “underperform” rating and issued a $55.00 target price (up from $53.00) on shares of Torchmark Corp. in a report on Monday, August 1st. Finally, Deutsche Bank AG boosted their target price 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. Five analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $58.36.
In other news, insider John Henry Rogers, Jr. sold 875 shares of Torchmark Corp. stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $65.03, for a total transaction of $56,901.25. Following the completion of the sale, the insider now directly owns 875 shares in the company, valued at $56,901.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Frank M. Svoboda sold 21,250 shares of Torchmark Corp. stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $61.94, for a total transaction of $1,316,225.00. Following the sale, the chief financial officer now owns 92,004 shares of the company’s stock, valued at $5,698,727.76. The disclosure for this sale can be found here. Company 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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