Flinton Capital Management LLC lessened its stake in shares of Torchmark Co. (NYSE:TMK) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,376 shares of the insurance provider’s stock after selling 1,104 shares during the period. Flinton Capital Management LLC’s holdings in Torchmark were worth $1,395,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in Torchmark during the 4th quarter worth approximately $149,000. Fuller & Thaler Asset Management Inc. grew its position in Torchmark by 63.6% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 700 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Torchmark during the 4th quarter worth approximately $173,000. Invictus RG purchased a new stake in Torchmark during the 3rd quarter worth approximately $165,000. Finally, YCG LLC purchased a new stake in Torchmark during the 4th quarter worth approximately $204,000. 74.74% of the stock is currently owned by institutional investors.
Shares of Torchmark Co. (NYSE TMK) opened at $85.59 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.06 and a current ratio of 0.06. Torchmark Co. has a 12 month low of $73.99 and a 12 month high of $93.60. The company has a market cap of $9,724.34, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 1.97 and a beta of 0.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 3rd will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.75%. This is a boost from Torchmark’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, April 2nd. Torchmark’s payout ratio is presently 4.88%.
In related news, EVP James Matthew Darden sold 12,750 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $90.89, for a total value of $1,158,847.50. Following the completion of the transaction, the executive vice president now directly owns 16,500 shares in the company, valued at approximately $1,499,685. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Frank M. Svoboda sold 12,375 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $86.88, for a total transaction of $1,075,140.00. Following the completion of the transaction, the chief financial officer now owns 105,828 shares of the company’s stock, valued at $9,194,336.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,525 shares of company stock valued at $12,841,853. Company insiders own 3.79% of the company’s stock.
Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. UBS initiated coverage on shares of Torchmark in a research note on Friday, March 2nd. They set a “sell” rating and a $83.00 price objective for the company. ValuEngine upgraded shares of Torchmark from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Wells Fargo set a $78.00 price objective on shares of Torchmark and gave the company a “sell” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Torchmark has a consensus rating of “Hold” and a consensus price target of $83.14.
TRADEMARK VIOLATION NOTICE: This story was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://stocknewstimes.com/2018/03/17/torchmark-co-tmk-shares-sold-by-flinton-capital-management-llc.html.
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.
Want to see what other hedge funds are holding TMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Torchmark Co. (NYSE:TMK).
Receive News & Ratings for Torchmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark and related companies with MarketBeat.com's FREE daily email newsletter.