Retirement Systems of Alabama decreased its stake in Torchmark Corp. (NYSE:TMK) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 57,204 shares of the company’s stock after selling 115 shares during the period. Retirement Systems of Alabama’s holdings in Torchmark Corp. were worth $3,536,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of Torchmark Corp. by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,326,787 shares of the company’s stock valued at $180,179,000 after buying an additional 86,539 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in Torchmark Corp. by 11.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,745,355 shares of the company’s stock worth $107,898,000 after buying an additional 179,750 shares during the last quarter. Geode Capital Management LLC boosted its stake in Torchmark Corp. by 0.4% in the first quarter. Geode Capital Management LLC now owns 956,016 shares of the company’s stock worth $51,674,000 after buying an additional 3,607 shares during the last quarter. RS Investment Management Co. LLC boosted its stake in Torchmark Corp. by 3.2% in the second quarter. RS Investment Management Co. LLC now owns 471,240 shares of the company’s stock worth $29,132,000 after buying an additional 14,475 shares during the last quarter. Finally, First Quadrant L P CA boosted its stake in Torchmark Corp. by 37.9% in the second quarter. First Quadrant L P CA now owns 346,725 shares of the company’s stock worth $21,435,000 after buying an additional 95,350 shares during the last quarter. Hedge funds and other institutional investors own 75.47% of the company’s stock.
Torchmark Corp. (NYSE:TMK) traded up 0.91% on Tuesday, reaching $64.31. The company had a trading volume of 448,771 shares. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 14.79 and a beta of 1.06. Torchmark Corp. has a 12 month low of $48.47 and a 12 month high of $65.60. The company’s 50 day moving average price is $64.29 and its 200-day moving average price is $60.99.
Torchmark Corp. (NYSE:TMK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The business had revenue of $992 million for the quarter, compared to analyst estimates of $979.43 million. Torchmark Corp. had a return on equity of 12.19% and a net margin of 13.85%. Torchmark Corp.’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, equities analysts predict that Torchmark Corp. will post $4.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.87%. The ex-dividend date is Wednesday, October 5th. Torchmark Corp.’s dividend payout ratio is 12.84%.
A number of research firms have issued reports on TMK. Zacks Investment Research upgraded Torchmark Corp. from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, September 27th. Wells Fargo & Co. reiterated an “underperform” rating on shares of Torchmark Corp. in a research note on Friday, September 23rd. Citigroup Inc. raised their target price on Torchmark Corp. from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Goldman Sachs Group Inc. upgraded Torchmark Corp. from a “sell” rating to a “neutral” rating and raised their target price for the company from $54.00 to $60.00 in a research note on Friday, July 15th. Finally, Deutsche Bank AG raised their target price on Torchmark Corp. from $56.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Five analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.17.
In related news, insider Bill Leavell sold 25,200 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $62.08, for a total value of $1,564,416.00. Following the sale, the insider now owns 45,534 shares of the company’s stock, valued at approximately $2,826,750.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles E. Adair sold 13,500 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $61.83, for a total value of $834,705.00. Following the completion of the transaction, the director now directly owns 26,807 shares in the company, valued at approximately $1,657,476.81. The disclosure for this sale can be found here. 3.96% of the stock is owned by corporate insiders.
About Torchmark Corp.
Torchmark Corporation is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance.
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