Torchmark Corporation (TMK) Position Lessened by Synovus Financial Corp

Synovus Financial Corp trimmed its holdings in shares of Torchmark Corporation (NYSE:TMK) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,793 shares of the insurance provider’s stock after selling 922 shares during the quarter. Synovus Financial Corp’s holdings in Torchmark were worth $1,585,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tiedemann Wealth Management LLC boosted its holdings in Torchmark by 8.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 16,147 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 1,201 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings 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 valued at $144,000 after acquiring an additional 700 shares during the period. Invictus RG purchased a new position in Torchmark during the 3rd quarter valued at about $165,000. Assetmark Inc. boosted its holdings in Torchmark by 7,975.0% during the 3rd 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 period. Finally, ZWJ Investment Counsel Inc. purchased a new position in Torchmark during the 3rd quarter valued at about $205,000. 72.69% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Thursday, October 26th. Goldman Sachs Group started coverage on Torchmark in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price objective for the company. BidaskClub cut Torchmark from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Barclays lifted their price objective on Torchmark from $65.00 to $67.00 and gave the company an “underweight” rating in a research note on Friday, August 11th. Finally, SunTrust Banks lifted 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. Two 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 stock. The company presently has a consensus rating of “Hold” and an average target price of $78.86.

In related news, Chairman Gary L. Coleman sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $83.28, for a total transaction of $3,123,000.00. Following the completion of the sale, the chairman now owns 666,875 shares in the company, valued at $55,537,350. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vern D. Herbel sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $83.89, for a total value of $2,097,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,085 shares of company stock valued at $13,701,414. 3.79% of the stock is owned by company insiders.

Shares of Torchmark Corporation (NYSE:TMK) traded up $0.03 on Thursday, hitting $89.03. The stock had a trading volume of 555,900 shares, compared to its average volume of 441,952. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10,270.00, a PE ratio of 18.82, a PEG ratio of 2.58 and a beta of 1.02. Torchmark Corporation has a fifty-two week low of $72.14 and a fifty-two week high of $90.32.

Torchmark (NYSE:TMK) last announced its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark had a return on equity of 11.60% and a net margin of 13.80%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. research analysts forecast that Torchmark Corporation will post 4.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, January 4th. Torchmark’s payout ratio is 12.93%.

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Torchmark 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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Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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