Oakbrook Investments LLC reduced its position in Torchmark Corporation (NYSE:TMK) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,010 shares of the insurance provider’s stock after selling 590 shares during the period. Oakbrook Investments LLC’s holdings in Torchmark Corporation were worth $766,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in shares of Torchmark Corporation by 144.0% in the first quarter. State of Alaska Department of Revenue now owns 7,091 shares of the insurance provider’s stock valued at $546,000 after buying an additional 4,185 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Torchmark Corporation during the fourth quarter worth $264,000. BlackRock Inc. boosted its stake in shares of Torchmark Corporation by 2,764.7% in the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock worth $576,118,000 after buying an additional 7,217,094 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Torchmark Corporation by 2.2% in the first quarter. Victory Capital Management Inc. now owns 455,070 shares of the insurance provider’s stock worth $35,059,000 after buying an additional 9,591 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Torchmark Corporation by 4.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 14,880 shares of the insurance provider’s stock worth $1,147,000 after buying an additional 610 shares during the period. Hedge funds and other institutional investors own 74.74% of the company’s stock.
Shares of Torchmark Corporation (TMK) traded down 0.37% during trading on Friday, hitting $78.16. 358,671 shares of the stock were exchanged. The stock has a market cap of $9.09 billion, a P/E ratio of 16.81 and a beta of 0.98. Torchmark Corporation has a 52 week low of $61.39 and a 52 week high of $79.90. The firm’s 50 day moving average price is $77.94 and its 200-day moving average price is $76.68.
Torchmark Corporation (NYSE:TMK) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.02. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts predict that Torchmark Corporation will post $4.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Wednesday, July 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, June 30th. Torchmark Corporation’s payout ratio is currently 12.88%.
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Several equities research analysts recently weighed in on TMK shares. ValuEngine cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Barclays PLC increased their price target on shares of Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a research report on Friday. Zacks Investment Research lowered shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $78.00 price target on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $73.33.
In other news, Director Lloyd W. Newton bought 2,500 shares of the stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average cost of $75.28 per share, for a total transaction of $188,200.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Vern D. Herbel sold 27,500 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $78.62, for a total value of $2,162,050.00. Following the completion of the sale, the executive vice president now owns 56,943 shares of the company’s stock, valued at $4,476,858.66. The disclosure for this sale can be found here. Insiders have sold a total of 120,077 shares of company stock valued at $9,418,934 in the last ninety days. Insiders own 3.79% of the company’s stock.
Torchmark Corporation Company Profile
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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