Gateway Investment Advisers LLC lowered its position in Torchmark Corporation (NYSE:TMK) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,229 shares of the insurance provider’s stock after selling 551 shares during the period. Gateway Investment Advisers LLC’s holdings in Torchmark Corporation were worth $553,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in TMK. Bronfman E.L. Rothschild L.P. raised its stake in Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock worth $187,000 after buying an additional 69 shares in the last quarter. Global X Management Co. LLC raised its stake in Torchmark Corporation by 539.3% in the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock worth $193,000 after buying an additional 2,114 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Torchmark Corporation during the first quarter worth approximately $205,000. Aull & Monroe Investment Management Corp acquired a new stake in Torchmark Corporation during the first quarter worth approximately $206,000. Finally, Dai Ichi Life Insurance Company Ltd acquired a new stake in Torchmark Corporation during the first quarter worth approximately $206,000. 74.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Torchmark Corporation (NYSE:TMK) traded up 0.29% during trading on Friday, hitting $79.07. 213,521 shares of the stock were exchanged. Torchmark Corporation has a 52 week low of $60.92 and a 52 week high of $79.53. The stock has a market cap of $9.25 billion, a P/E ratio of 16.99 and a beta of 0.98. The firm’s 50 day moving average price is $77.49 and its 200-day moving average price is $76.44.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, topping 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 11.70%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $1.11 earnings per share. Torchmark Corporation’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 business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Wednesday, July 5th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, June 30th. Torchmark Corporation’s payout ratio is 12.88%.
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TMK has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Torchmark Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Monday, April 24th. ValuEngine raised shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $75.00 price target on shares of Torchmark Corporation in a research report on Friday, May 26th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $73.00.
In other Torchmark Corporation news, insider Steven John Dichiaro sold 4,500 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $75.08, for a total value of $337,860.00. Following the completion of the sale, the insider now directly owns 12,860 shares in the company, valued at $965,528.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Henry Rogers, Jr. sold 1,875 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $79.25, for a total transaction of $148,593.75. Following the completion of the sale, the insider now owns 1,875 shares of the company’s stock, valued at $148,593.75. The disclosure for this sale can be found here. Insiders sold 92,577 shares of company stock valued at $7,256,884 over the last 90 days. Corporate 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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