Torchmark Corporation (TMK) Shares Bought by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System raised its position in Torchmark Corporation (NYSE:TMK) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,729 shares of the insurance provider’s stock after buying an additional 1,715 shares during the period. State Board of Administration of Florida Retirement System owned 0.17% of Torchmark Corporation worth $14,820,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in shares of Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock worth $187,000 after buying an additional 69 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Torchmark Corporation by 539.3% in the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock worth $193,000 after buying an additional 2,114 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Torchmark Corporation during the first quarter worth $205,000. Dai Ichi Life Insurance Company Ltd acquired a new position in shares of Torchmark Corporation during the first quarter worth $206,000. Finally, Warren Averett Asset Management LLC acquired a new position in shares of Torchmark Corporation during the first quarter worth $207,000. Hedge funds and other institutional investors own 71.92% of the company’s stock.
Torchmark Corporation (TMK) opened at 77.70 on Monday. Torchmark Corporation has a 52-week low of $62.86 and a 52-week high of $79.90. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 16.71 and a beta of 0.98. The stock has a 50 day moving average of $78.23 and a 200-day moving average of $76.93.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.02. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 earnings per share. On average, equities research analysts anticipate that Torchmark Corporation will post $4.75 earnings per share for the current fiscal year.
TMK has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, May 26th. ValuEngine upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $73.33.
In related news, Chairman Gary L. Coleman sold 37,500 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $78.57, for a total transaction of $2,946,375.00. Following the completion of the sale, the chairman now directly owns 666,875 shares in the company, valued at $52,396,368.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles E. Adair sold 9,244 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $78.89, for a total value of $729,259.16. Following the sale, the director now owns 20,613 shares of the company’s stock, valued at $1,626,159.57. The disclosure for this sale can be found here. Insiders sold 142,321 shares of company stock valued at $11,175,453 over the last 90 days. Company insiders own 3.79% of the company’s stock.
About Torchmark Corporation
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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