Torchmark Co. (TMK) Shares Bought by Ontario Teachers Pension Plan Board
Ontario Teachers Pension Plan Board increased its stake in shares of Torchmark Co. (NYSE:TMK) by 123.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,790 shares of the insurance provider’s stock after buying an additional 73,378 shares during the period. Ontario Teachers Pension Plan Board owned about 0.12% of Torchmark worth $10,810,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new stake in Torchmark during the second quarter worth about $101,000. Braun Bostich & Associates Inc. increased its holdings in Torchmark by 1,298.9% during the second quarter. Braun Bostich & Associates Inc. now owns 1,287 shares of the insurance provider’s stock worth $105,000 after buying an additional 1,195 shares during the last quarter. Signaturefd LLC purchased a new stake in Torchmark during the first quarter worth about $122,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Torchmark by 22,414.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,576 shares of the insurance provider’s stock worth $128,000 after buying an additional 1,569 shares during the last quarter. Finally, IBM Retirement Fund purchased a new stake in Torchmark during the first quarter worth about $211,000. Institutional investors and hedge funds own 73.79% of the company’s stock.
TMK opened at $87.71 on Friday. The stock has a market capitalization of $9.95 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.10 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.05 and a quick ratio of 0.05. Torchmark Co. has a twelve month low of $74.48 and a twelve month high of $93.60.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.64 annualized dividend and a dividend yield of 0.73%. Torchmark’s payout ratio is 13.28%.
In other news, Director Robert W. Ingram sold 293 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $88.81, for a total value of $26,021.33. Following the completion of the transaction, the director now directly owns 29,035 shares in the company, valued at $2,578,598.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Frank M. Svoboda sold 12,375 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $88.81, for a total transaction of $1,099,023.75. Following the completion of the transaction, the chief financial officer now owns 105,828 shares of the company’s stock, valued at $9,398,584.68. The disclosure for this sale can be found here. Insiders sold 374,790 shares of company stock valued at $32,947,846 in the last quarter. Corporate insiders own 3.68% of the company’s stock.
A number of research firms recently issued reports on TMK. ValuEngine downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Morgan Stanley raised their price objective on shares of Torchmark from $80.00 to $81.00 and gave the stock an “underweight” rating in a report on Thursday, July 26th. Finally, Zacks Investment Research downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $85.25.
Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
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