Torchmark Corporation (TMK) Position Increased by Victory Capital Management Inc.
Victory Capital Management Inc. raised its position in shares of Torchmark Corporation (NYSE:TMK) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 480,057 shares of the insurance provider’s stock after buying an additional 24,987 shares during the period. Victory Capital Management Inc. owned approximately 0.41% of Torchmark Corporation worth $36,724,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Elkhorn Investments LLC acquired a new position in shares of Torchmark Corporation during the first quarter worth approximately $1,111,000. State Board of Administration of Florida Retirement System increased its position in Torchmark Corporation by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 192,014 shares of the insurance provider’s stock worth $14,793,000 after buying an additional 1,987 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Torchmark Corporation by 6.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 364,675 shares of the insurance provider’s stock worth $28,095,000 after buying an additional 21,196 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Torchmark Corporation by 2.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,059 shares of the insurance provider’s stock worth $1,391,000 after buying an additional 489 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Torchmark Corporation by 270.6% in the first quarter. Canada Pension Plan Investment Board now owns 173,661 shares of the insurance provider’s stock worth $13,379,000 after buying an additional 126,800 shares during the period. Institutional investors own 71.92% of the company’s stock.
Shares of Torchmark Corporation (NYSE:TMK) opened at 76.94 on Thursday. The stock has a market capitalization of $8.95 billion, a PE ratio of 16.55 and a beta of 0.98. The stock has a 50 day moving average price of $78.23 and a 200-day moving average price of $76.93. Torchmark Corporation has a 1-year low of $62.86 and a 1-year high of $79.90.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 EPS. On average, analysts forecast that Torchmark Corporation will post $4.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
A number of equities analysts have issued reports on the company. BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a report on Thursday, August 3rd. Zacks Investment Research upgraded Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 price objective for the company in a report on Friday, July 28th. Finally, Barclays PLC increased their price objective on Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Torchmark Corporation currently has an average rating of “Hold” and an average price target of $73.00.
In related news, Chairman Gary L. Coleman sold 37,500 shares of Torchmark Corporation 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 transaction, the chairman now directly owns 666,875 shares in the company, valued at approximately $52,396,368.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Arvelia Bowie sold 16,875 shares of Torchmark Corporation stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $78.45, for a total value of $1,323,843.75. Following the transaction, the vice president now owns 17,941 shares of the company’s stock, valued at $1,407,471.45. The disclosure for this sale can be found here. Insiders have sold a total of 137,821 shares of company stock valued at $10,837,593 over the last 90 days. 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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