Teacher Retirement System of Texas lessened its holdings in shares of Torchmark Co. (NYSE:TMK) by 9.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 304,355 shares of the insurance provider’s stock after selling 31,132 shares during the quarter. Teacher Retirement System of Texas’ holdings in Torchmark were worth $24,942,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TMK. CSat Investment Advisory L.P. boosted its position in Torchmark by 60.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 407 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 153 shares during the period. Arbor Wealth Management LLC acquired a new stake in shares of Torchmark in the fourth quarter valued at $38,000. Captrust Financial Advisors acquired a new stake in shares of Torchmark in the fourth quarter valued at $45,000. Quadrant Capital Group LLC lifted its holdings in shares of Torchmark by 773.4% in the first quarter. Quadrant Capital Group LLC now owns 690 shares of the insurance provider’s stock valued at $55,000 after buying an additional 611 shares during the period. Finally, Capital Financial Planning LLC acquired a new stake in shares of Torchmark in the fourth quarter valued at $56,000. Institutional investors own 76.56% of the company’s stock.

Separately, Zacks Investment Research lowered Torchmark from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Torchmark has a consensus rating of “Hold” and a consensus price target of $86.00.

Shares of Torchmark stock opened at $87.31 on Wednesday. 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 firm has a market capitalization of $9.49 billion, a PE ratio of 14.24, a PEG ratio of 1.63 and a beta of 1.01. Torchmark Co. has a fifty-two week low of $69.68 and a fifty-two week high of $91.28.

Torchmark (NYSE:TMK) last announced its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.05. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Torchmark had a return on equity of 12.75% and a net margin of 16.37%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.47 earnings per share. Equities analysts anticipate that Torchmark Co. will post 6.69 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, July 3rd. Torchmark’s dividend payout ratio (DPR) is presently 11.26%.

In other news, Director Robert W. Ingram sold 290 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $87.85, for a total transaction of $25,476.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Gary L. Coleman sold 13,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $83.10, for a total value of $1,080,300.00. Following the sale, the chairman now directly owns 662,547 shares in the company, valued at $55,057,655.70. The disclosure for this sale can be found here. Insiders have sold 250,014 shares of company stock worth $21,360,694 over the last ninety days. 3.64% of the stock is owned by insiders.

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Torchmark Profile

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, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.

Further Reading: Rule of 72

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Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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