Torchmark Corp. (TMK) Stake Lowered by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado lowered its position in Torchmark Corp. (NYSE:TMK) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,674 shares of the company’s stock after selling 780 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Torchmark Corp. were worth $1,640,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Nuveen Asset Management LLC raised its stake in shares of 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. A.R.T. Advisors LLC acquired a new stake in shares of Torchmark Corp. during the first quarter valued at about $1,200,000. BlueMountain Capital Management LLC raised its stake in shares of Torchmark Corp. by 143.2% in the first quarter. BlueMountain Capital Management LLC now owns 11,916 shares of the company’s stock valued at $645,000 after buying an additional 7,017 shares during the last quarter. Capital Investment Services of America Inc. acquired a new stake in shares of Torchmark Corp. during the second quarter valued at about $214,000. Finally, Exxonmobil Investment Management Inc. TX raised its stake in shares of Torchmark Corp. by 5.8% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 29,044 shares of the company’s stock valued at $1,796,000 after buying an additional 1,586 shares during the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.
Shares of Torchmark Corp. (NYSE:TMK) traded down 2.12% during mid-day trading on Monday, hitting $69.59. 865,352 shares of the company traded hands. The firm has a 50-day moving average of $66.15 and a 200-day moving average of $63.09. Torchmark Corp. has a one year low of $48.47 and a one year high of $71.49. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 15.69 and a beta of 0.95.
Torchmark Corp. (NYSE:TMK) last announced its earnings results on Tuesday, October 25th. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.03. The company earned $990 million during the quarter, compared to the consensus estimate of $964.48 million. Torchmark Corp. had a net margin of 14.05% and a return on equity of 11.77%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. On average, equities analysts predict that Torchmark Corp. will post $4.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Friday, January 6th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $0.56 dividend on an annualized basis and a yield of 0.79%. Torchmark Corp.’s dividend payout ratio (DPR) is presently 12.56%.
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TMK has been the topic of several recent research reports. Royal Bank Of Canada lifted their price target on shares of Torchmark Corp. from $53.00 to $55.00 and gave the company an “underperform” rating in a research note on Monday, August 1st. Zacks Investment Research upgraded shares of Torchmark Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. RBC Capital Markets reiterated an “underperform” rating and issued a $55.00 price target (up from $53.00) on shares of Torchmark Corp. in a research note on Monday, August 1st. Wells Fargo & Co. reiterated an “underperform” rating on shares of Torchmark Corp. in a research note on Friday, September 23rd. Finally, Credit Suisse Group AG initiated coverage on shares of Torchmark Corp. in a research note on Friday, October 7th. They issued a “neutral” rating and a $68.00 price target on the stock. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Torchmark Corp. has a consensus rating of “Hold” and a consensus target price of $59.90.
In other Torchmark Corp. news, insider Roger C. Smith sold 22,500 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $69.82, for a total transaction of $1,570,950.00. Following the completion of the transaction, the insider now owns 51,563 shares in the company, valued at $3,600,128.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larry M. Hutchison sold 37,500 shares of the stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $63.27, for a total transaction of $2,372,625.00. Following the transaction, the insider now owns 519,198 shares of the company’s stock, valued at approximately $32,849,657.46. The disclosure for this sale can be found here. Corporate insiders own 3.96% of the company’s stock.
Torchmark Corp. Company Profile
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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