Pzena Investment Management LLC lessened its holdings in shares of Torchmark Corporation (NYSE:TMK) by 30.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 329,857 shares of the insurance provider’s stock after selling 147,804 shares during the period. Pzena Investment Management LLC owned approximately 0.28% of Torchmark Corporation worth $26,418,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. ZWJ Investment Counsel Inc. acquired a new stake in Torchmark Corporation in the third quarter valued at $205,000. Swiss National Bank grew its holdings in Torchmark Corporation by 0.5% in the third quarter. Swiss National Bank now owns 409,928 shares of the insurance provider’s stock valued at $32,831,000 after purchasing an additional 2,000 shares during the last quarter. Boston Partners grew its holdings in Torchmark Corporation by 0.9% in the third quarter. Boston Partners now owns 1,884,492 shares of the insurance provider’s stock valued at $150,929,000 after purchasing an additional 16,795 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Torchmark Corporation by 5.2% in the third quarter. Daiwa Securities Group Inc. now owns 88,077 shares of the insurance provider’s stock valued at $7,054,000 after purchasing an additional 4,321 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. grew its holdings in Torchmark Corporation by 9.2% in the third quarter. Penobscot Investment Management Company Inc. now owns 7,450 shares of the insurance provider’s stock valued at $597,000 after purchasing an additional 630 shares during the last quarter. 72.19% of the stock is currently owned by institutional investors.
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In other Torchmark Corporation news, Director Charles E. Adair sold 9,244 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $78.89, for a total transaction of $729,259.16. Following the completion of the sale, the director now directly owns 20,613 shares in the company, valued at $1,626,159.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven John Dichiaro sold 13,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $79.02, for a total value of $1,027,260.00. Following the sale, the insider now owns 21,360 shares of the company’s stock, valued at $1,687,867.20. The disclosure for this sale can be found here. Insiders have sold 160,329 shares of company stock valued at $13,360,683 over the last 90 days. 3.79% of the stock is currently owned by insiders.
Torchmark Corporation (NYSE:TMK) traded down $0.24 during midday trading on Friday, reaching $84.26. The company had a trading volume of 406,694 shares, compared to its average volume of 441,578. Torchmark Corporation has a 1 year low of $69.09 and a 1 year high of $86.50. The stock has a market capitalization of $9,755.25, a P/E ratio of 17.86, a PEG ratio of 2.45 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06.
Torchmark Corporation (NYSE:TMK) last released its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. sell-side analysts predict that Torchmark Corporation will post 4.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, October 5th. This represents a $0.60 annualized dividend and a yield of 0.71%. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.77%.
Several analysts have weighed in on the company. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) began coverage on Torchmark Corporation in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price objective on the stock. Zacks Investment Research upgraded Torchmark Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Thursday, October 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Finally, Barclays PLC upped their price objective on Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $78.86.
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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