CSat Investment Advisory L.P. raised its stake in shares of Torchmark Co. (NYSE:TMK) by 60.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 407 shares of the insurance provider’s stock after acquiring an additional 153 shares during the quarter. CSat Investment Advisory L.P.’s holdings in Torchmark were worth $30,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TMK. Wells Fargo & Company MN boosted its stake in Torchmark by 10.7% during the 3rd quarter. Wells Fargo & Company MN now owns 179,552 shares of the insurance provider’s stock valued at $15,566,000 after acquiring an additional 17,334 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Torchmark by 3.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,422 shares of the insurance provider’s stock valued at $33,499,000 after acquiring an additional 13,266 shares during the last quarter. MML Investors Services LLC bought a new position in Torchmark during the 3rd quarter valued at $234,000. Norinchukin Bank The boosted its stake in Torchmark by 11.5% during the 3rd quarter. Norinchukin Bank The now owns 7,334 shares of the insurance provider’s stock valued at $636,000 after acquiring an additional 754 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Torchmark by 21.9% during the 3rd quarter. Alliancebernstein L.P. now owns 222,686 shares of the insurance provider’s stock valued at $19,305,000 after acquiring an additional 40,036 shares during the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.
Shares of NYSE:TMK opened at $80.31 on Friday. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. Torchmark Co. has a 1-year low of $69.68 and a 1-year high of $89.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.06 and a current ratio of 0.06.
Torchmark (NYSE:TMK) last issued its earnings results on Tuesday, February 5th. The insurance provider reported $1.56 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.56. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Torchmark had a net margin of 16.32% and a return on equity of 12.66%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. As a group, equities research analysts anticipate that Torchmark Co. will post 6.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.86%. This is a boost from Torchmark’s previous quarterly dividend of $0.16. Torchmark’s dividend payout ratio is 10.44%.
In other Torchmark news, Chairman Gary L. Coleman sold 13,000 shares of the stock in a transaction on Friday, February 15th. The shares were sold at an average price of $83.10, for a total transaction of $1,080,300.00. Following the sale, the chairman now directly owns 662,547 shares of the company’s stock, valued at $55,057,655.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Matthew Darden sold 29,510 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $83.08, for a total transaction of $2,451,690.80. Following the sale, the executive vice president now directly owns 54,095 shares in the company, valued at $4,494,212.60. The disclosure for this sale can be found here. Insiders have sold 84,010 shares of company stock worth $6,963,281 over the last three months. 3.68% of the stock is owned by corporate insiders.
A number of research firms have commented on TMK. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Saturday, January 5th. ValuEngine upgraded shares of Torchmark from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Torchmark from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Torchmark presently has an average rating of “Hold” and an average price target of $85.60.
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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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