Citadel Advisors LLC Has $15.11 Million Position in Torchmark Corporation (TMK)
Citadel Advisors LLC increased its position in shares of Torchmark Corporation (NYSE:TMK) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,665 shares of the insurance provider’s stock after purchasing an additional 22,754 shares during the period. Citadel Advisors LLC owned 0.16% of Torchmark worth $15,110,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. boosted its stake in Torchmark by 63.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock valued at $144,000 after acquiring an additional 700 shares in the last quarter. Assetmark Inc. boosted its stake in Torchmark by 7,975.0% in the third quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock valued at $181,000 after acquiring an additional 2,233 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new position in Torchmark in the third quarter valued at $205,000. Twin Tree Management LP acquired a new position in Torchmark in the second quarter valued at $213,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in Torchmark by 21.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock valued at $225,000 after acquiring an additional 515 shares in the last quarter. Hedge funds and other institutional investors own 72.68% of the company’s stock.
TMK has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Thursday, October 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $83.00 price objective on shares of Torchmark in a research note on Friday, November 10th. Goldman Sachs Group initiated coverage on shares of Torchmark in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price objective for the company. Barclays upped their price objective on shares of Torchmark from $65.00 to $67.00 and gave the company an “underweight” rating in a research note on Friday, August 11th. Finally, BidaskClub upgraded shares of Torchmark from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $78.86.
Shares of Torchmark Corporation (TMK) traded up $0.58 during trading hours on Tuesday, hitting $85.74. 364,800 shares of the stock were exchanged, compared to its average volume of 435,607. Torchmark Corporation has a 1-year low of $69.55 and a 1-year high of $86.50. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $9,831.45, a PE ratio of 18.00, a price-to-earnings-growth ratio of 2.47 and a beta of 1.00.
Torchmark (NYSE:TMK) last announced its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Torchmark had a net margin of 13.80% and a return on equity of 11.60%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $1.15 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. equities research analysts forecast that Torchmark Corporation will post 4.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be issued a $0.15 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.70%. Torchmark’s payout ratio is 12.77%.
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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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