Acadian Asset Management LLC raised its position in Torchmark Corporation (NYSE:TMK) by 245.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 667,797 shares of the insurance provider’s stock after purchasing an additional 474,661 shares during the period. Acadian Asset Management LLC owned about 0.58% of Torchmark worth $60,576,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of TMK. Tiedemann Wealth Management LLC grew its holdings in Torchmark by 8.0% in the third quarter. Tiedemann Wealth Management LLC now owns 16,147 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 1,201 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Torchmark by 63.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock valued at $144,000 after acquiring an additional 700 shares during the last quarter. Invictus RG acquired a new stake in shares of Torchmark during the third quarter valued at $165,000. Assetmark Inc. boosted its stake in shares of Torchmark by 7,975.0% during the third quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock valued at $181,000 after acquiring an additional 2,233 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Torchmark during the third quarter valued at $205,000. 72.63% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the company. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Thursday, January 11th. ValuEngine raised Torchmark from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $83.00 price objective on shares of Torchmark in a research note on Friday, November 10th. SunTrust Banks increased their price objective on Torchmark from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Goldman Sachs Group assumed coverage on Torchmark in a research note on Wednesday, October 18th. They set a “neutral” rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $81.67.
Torchmark (NYSE:TMK) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Torchmark 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 analyst estimates of $1.03 billion. During the same period last year, the company earned $1.15 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. equities analysts predict that Torchmark Corporation will post 4.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, January 4th. Torchmark’s payout ratio is 12.93%.
In other Torchmark news, Chairman Gary L. Coleman sold 37,500 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $83.28, for a total value of $3,123,000.00. Following the sale, the chairman now directly owns 666,875 shares of the company’s stock, valued at approximately $55,537,350. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kenneth J. Matson sold 28,500 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $90.81, for a total value of $2,588,085.00. Following the completion of the sale, the insider now directly owns 15,056 shares in the company, valued at $1,367,235.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 234,335 shares of company stock worth $20,167,546. 3.79% of the stock is owned by corporate insiders.
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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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