Capstone Asset Management Co. Has $4,022,000 Position in Torchmark Corp. (TMK)
Capstone Asset Management Co. reduced its position in shares of Torchmark Corp. (NYSE:TMK) by 5.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,959 shares of the company’s stock after selling 3,815 shares during the period. Capstone Asset Management Co. owned about 0.05% of Torchmark Corp. worth $4,022,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Torchmark Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 10,914,289 shares of the company’s stock worth $674,722,000 after buying an additional 150,220 shares in the last quarter. FMR LLC increased its position in shares of Torchmark Corp. by 21.4% in the second quarter. FMR LLC now owns 4,299,373 shares of the company’s stock worth $265,788,000 after buying an additional 757,907 shares in the last quarter. Boston Partners increased its position in shares of Torchmark Corp. by 6.9% in the second quarter. Boston Partners now owns 2,687,021 shares of the company’s stock worth $166,112,000 after buying an additional 173,190 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Torchmark Corp. by 3.9% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,678,643 shares of the company’s stock worth $165,594,000 after buying an additional 100,300 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. increased its position in shares of Torchmark Corp. by 11.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,745,355 shares of the company’s stock worth $107,898,000 after buying an additional 179,750 shares in the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.
Shares of Torchmark Corp. (NYSE:TMK) traded up 0.11% during mid-day trading on Tuesday, hitting $69.67. The stock had a trading volume of 660,198 shares. The stock’s 50-day moving average price is $66.15 and its 200-day moving average price is $63.09. The firm has a market cap of $8.27 billion, a PE ratio of 15.71 and a beta of 0.95. Torchmark Corp. has a 52-week low of $48.47 and a 52-week high of $71.49.
Torchmark Corp. (NYSE:TMK) last posted its earnings results on Tuesday, October 25th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.03. The company had revenue of $990 million for the quarter, compared to analysts’ expectations of $964.48 million. Torchmark Corp. had a return on equity of 11.77% and a net margin of 14.05%. Torchmark Corp.’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. On average, analysts anticipate that Torchmark Corp. will post $4.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 6th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, January 4th. This represents a $0.56 annualized dividend and a yield of 0.80%. Torchmark Corp.’s payout ratio is 12.56%.
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A number of brokerages have recently issued reports on TMK. Zacks Investment Research raised Torchmark Corp. from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, September 27th. Wells Fargo & Co. reissued an “underperform” rating on shares of Torchmark Corp. in a research note on Friday, September 23rd. Bank of America Corp. downgraded Torchmark Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday, November 18th. Royal Bank Of Canada boosted their price objective on Torchmark Corp. from $53.00 to $55.00 and gave the company an “underperform” rating in a research note on Monday, August 1st. Finally, RBC Capital Markets reissued an “underperform” rating and issued a $55.00 price objective (up from $53.00) on shares of Torchmark Corp. in a research note on Monday, August 1st. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Torchmark Corp. presently has an average rating of “Hold” and an average price target of $59.90.
In other Torchmark Corp. news, insider Larry M. Hutchison sold 37,500 shares of Torchmark Corp. stock in a transaction that occurred on 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 sale, the insider now directly owns 519,198 shares of the company’s stock, valued at approximately $32,849,657.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gary L. Coleman sold 22,850 shares of Torchmark Corp. stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $63.23, for a total value of $1,444,805.50. Following the sale, the chairman now directly owns 625,581 shares in the company, valued at $39,555,486.63. 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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