Bp Plc continued to hold its stake in shares of Torchmark Co. (NYSE:TMK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,500 shares of the insurance provider’s stock at the end of the first quarter. Bp Plc’s holdings in Torchmark were worth $1,117,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Torchmark by 2.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,712 shares of the insurance provider’s stock valued at $1,132,000 after buying an additional 470 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Torchmark by 0.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 351,449 shares of the insurance provider’s stock valued at $22,454,000 after buying an additional 1,709 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Torchmark during the third quarter valued at about $669,000. BB&T Corp increased its stake in shares of Torchmark by 1.2% in the third quarter. BB&T Corp now owns 148,578 shares of the insurance provider’s stock valued at $9,493,000 after buying an additional 1,710 shares during the period. Finally, Blue Rock Advisors LLC purchased a new stake in shares of Torchmark during the third quarter valued at about $551,000. 73.68% of the stock is currently owned by institutional investors.
Torchmark Co. (NYSE:TMK) traded down 0.27% on Friday, reaching $74.37. 814,212 shares of the company’s stock were exchanged. Torchmark Co. has a 12 month low of $57.49 and a 12 month high of $79.53. The firm has a market cap of $8.70 billion, a PE ratio of 16.16 and a beta of 0.99. The firm’s 50-day moving average is $76.16 and its 200-day moving average is $74.35.
Torchmark (NYSE:TMK) last announced its quarterly earnings data on Wednesday, April 19th. The insurance provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. Torchmark had a net margin of 13.95% and a return on equity of 11.52%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $1.10 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Torchmark Co. will post $4.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Wednesday, July 5th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, June 30th. Torchmark’s dividend payout ratio (DPR) is presently 12.42%.
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Several equities analysts have recently commented on the stock. Deutsche Bank AG boosted their price target on shares of Torchmark from $60.00 to $69.00 and gave the company a “hold” rating in a report on Monday, January 23rd. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $75.00 price target on shares of Torchmark in a report on Friday, April 21st. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Torchmark has an average rating of “Hold” and a consensus target price of $67.44.
In other news, insider Domenico Bertini sold 4,500 shares of Torchmark stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $77.28, for a total value of $347,760.00. Following the completion of the transaction, the insider now owns 4,500 shares of the company’s stock, valued at approximately $347,760. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gary L. Coleman sold 37,500 shares of Torchmark stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $75.93, for a total transaction of $2,847,375.00. Following the completion of the transaction, the chairman now directly owns 666,875 shares of the company’s stock, valued at approximately $50,635,818.75. The disclosure for this sale can be found here. In the last three months, insiders sold 141,403 shares of company stock valued at $10,869,763. Insiders own 3.96% of the company’s stock.
Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.
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