Andra AP fonden decreased its position in shares of Torchmark Corporation (NYSE:TMK) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,600 shares of the insurance provider’s stock after selling 7,100 shares during the period. Andra AP fonden owned approximately 0.05% of Torchmark Corporation worth $4,559,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TMK. Retirement Systems of Alabama increased its position in shares of Torchmark Corporation by 1.2% in the first quarter. Retirement Systems of Alabama now owns 52,941 shares of the insurance provider’s stock worth $4,079,000 after buying an additional 636 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Torchmark Corporation by 3.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,006 shares of the insurance provider’s stock worth $217,000 after buying an additional 96 shares in the last quarter. Korea Investment CORP increased its position in shares of Torchmark Corporation by 39.2% in the first quarter. Korea Investment CORP now owns 49,400 shares of the insurance provider’s stock worth $3,806,000 after buying an additional 13,900 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Torchmark Corporation by 3.4% in the first quarter. ProShare Advisors LLC now owns 50,001 shares of the insurance provider’s stock worth $3,852,000 after buying an additional 1,637 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Torchmark Corporation by 191.6% in the first quarter. Acadian Asset Management LLC now owns 19,572 shares of the insurance provider’s stock worth $1,508,000 after buying an additional 12,859 shares in the last quarter. Institutional investors own 71.92% of the company’s stock.

Torchmark Corporation (NYSE:TMK) opened at 76.81 on Wednesday. The company has a market capitalization of $8.93 billion, a P/E ratio of 16.52 and a beta of 0.98. Torchmark Corporation has a one year low of $62.86 and a one year high of $79.90. The stock’s 50 day moving average price is $78.23 and its 200 day moving average price is $76.93.

Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.02. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $1.11 earnings per share. Torchmark Corporation’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts anticipate that Torchmark Corporation will post $4.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Thursday, October 5th. Torchmark Corporation’s dividend payout ratio (DPR) is currently 12.88%.

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TMK has been the subject of a number of research reports. ValuEngine downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Zacks Investment Research downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $75.00 price objective on shares of Torchmark Corporation in a report on Friday, May 26th. Finally, BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Torchmark Corporation presently has an average rating of “Hold” and an average price target of $73.00.

In other news, Director Charles E. Adair sold 9,244 shares of Torchmark Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $78.89, for a total transaction of $729,259.16. Following the sale, the director now owns 20,613 shares in the company, valued at $1,626,159.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven John Dichiaro sold 13,000 shares of Torchmark Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $79.02, for a total value of $1,027,260.00. Following the sale, the insider now owns 21,360 shares in the company, valued at approximately $1,687,867.20. The disclosure for this sale can be found here. Insiders have sold 137,821 shares of company stock worth $10,837,593 in the last quarter. 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.

Institutional Ownership by Quarter for Torchmark Corporation (NYSE:TMK)

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