Penobscot Investment Management Company Inc. Sells 193 Shares of Torchmark Co. (NYSE:TMK)

Penobscot Investment Management Company Inc. lowered its holdings in shares of Torchmark Co. (NYSE:TMK) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,400 shares of the insurance provider’s stock after selling 193 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Torchmark were worth $1,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TMK. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Torchmark by 0.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,967,608 shares of the insurance provider’s stock valued at $161,245,000 after acquiring an additional 6,700 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Torchmark by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 1,457,051 shares of the insurance provider’s stock valued at $108,420,000 after acquiring an additional 89,972 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Torchmark by 22.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,409,739 shares of the insurance provider’s stock valued at $115,529,000 after acquiring an additional 262,077 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Torchmark by 25.2% during the 1st quarter. California Public Employees Retirement System now owns 754,032 shares of the insurance provider’s stock valued at $61,793,000 after acquiring an additional 151,530 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Torchmark by 1,351.9% during the 1st quarter. Nordea Investment Management AB now owns 396,865 shares of the insurance provider’s stock valued at $32,524,000 after acquiring an additional 369,531 shares in the last quarter. Institutional investors and hedge funds own 75.76% of the company’s stock.

In other news, EVP Robert Brian Mitchell sold 7,500 shares of Torchmark stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $87.90, for a total transaction of $659,250.00. Following the completion of the sale, the executive vice president now owns 103,478 shares in the company, valued at approximately $9,095,716.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vern D. Herbel sold 50,000 shares of Torchmark stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at approximately $4,612,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,924 shares of company stock valued at $14,140,749. Insiders own 3.64% of the company’s stock.

Shares of NYSE TMK traded up $3.03 during trading on Friday, reaching $88.10. Torchmark Co. has a twelve month low of $69.68 and a twelve month high of $93.26. The company has a market cap of $9.35 billion, a PE ratio of 14.37, a PEG ratio of 1.68 and a beta of 0.95. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $88.35 and a 200 day moving average of $86.08.

Torchmark (NYSE:TMK) last announced its earnings results on Wednesday, July 24th. The insurance provider reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.02. Torchmark had a net margin of 16.26% and a return on equity of 12.90%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $1.51 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. As a group, research analysts forecast that Torchmark Co. will post 6.73 EPS for the current year.

TMK has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of Torchmark from $84.00 to $86.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $86.50.

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.

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Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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