Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Holdings in Torchmark Corporation (TMK)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Torchmark Corporation (NYSE:TMK) by 9.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,448 shares of the insurance provider’s stock after buying an additional 1,446 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Torchmark Corporation were worth $1,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Torchmark Corporation by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 12,040,805 shares of the insurance provider’s stock valued at $921,122,000 after buying an additional 122,391 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Torchmark Corporation by 14,667.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,531,462 shares of the insurance provider’s stock valued at $193,657,000 after buying an additional 2,514,320 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Torchmark Corporation by 11.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,331,664 shares of the insurance provider’s stock valued at $101,872,000 after buying an additional 134,897 shares in the last quarter. Schroder Investment Management Group grew its holdings in Torchmark Corporation by 3.9% in the 2nd quarter. Schroder Investment Management Group now owns 710,904 shares of the insurance provider’s stock valued at $54,256,000 after buying an additional 26,789 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Torchmark Corporation by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 710,811 shares of the insurance provider’s stock valued at $54,377,000 after buying an additional 24,349 shares in the last quarter. 72.69% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider John Henry Rogers, Jr. sold 1,875 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $85.30, for a total transaction of $159,937.50. Following the completion of the sale, the insider now directly owns 1,875 shares in the company, valued at approximately $159,937.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul J. Zucconi sold 595 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $85.07, for a total value of $50,616.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,085 shares of company stock valued at $11,604,164. 3.79% of the stock is owned by corporate insiders.

TMK has been the topic of a number of research reports. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Thursday, October 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a report on Sunday, October 8th. Goldman Sachs Group, Inc. (The) assumed coverage on Torchmark Corporation in a report on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price objective on the stock. Barclays PLC upped their target price on Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Friday, August 11th. Finally, BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $78.86.

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Shares of Torchmark Corporation (NYSE:TMK) opened at $84.69 on Tuesday. The firm has a market capitalization of $9,727.55, a price-to-earnings ratio of 17.81, a PEG ratio of 2.45 and a beta of 1.00. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. Torchmark Corporation has a 1 year low of $69.14 and a 1 year high of $86.50.

Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Torchmark Corporation had a return on equity of 11.60% and a net margin of 13.80%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company earned $1.15 EPS. Torchmark Corporation’s revenue for the quarter was up 5.7% on a year-over-year basis. sell-side analysts anticipate that Torchmark Corporation will post 4.8 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.71%. Torchmark Corporation’s dividend payout ratio is currently 12.77%.

Torchmark Corporation 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.

Institutional Ownership by Quarter for Torchmark Corporation (NYSE:TMK)

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