Quantitative Investment Management LLC boosted its stake in shares of Torchmark Co. (NYSE:TMK) by 178.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,400 shares of the insurance provider’s stock after buying an additional 38,700 shares during the quarter. Quantitative Investment Management LLC’s holdings in Torchmark were worth $5,478,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in TMK. Tiedemann Wealth Management LLC grew its position in shares of 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. grew its position in shares of Torchmark by 63.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock valued at $144,000 after purchasing an additional 700 shares during the last quarter. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Torchmark in the fourth quarter valued at approximately $149,000. Invictus RG acquired a new stake in shares of Torchmark in the third quarter valued at approximately $165,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Torchmark in the fourth quarter valued at approximately $173,000. Institutional investors and hedge funds own 74.74% of the company’s stock.
Torchmark Co. (TMK) opened at $86.38 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market cap of $9,850.00, a P/E ratio of 4.37, a P/E/G ratio of 2.02 and a beta of 0.97. Torchmark Co. has a one year low of $73.99 and a one year high of $93.60.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 3rd will be paid a dividend of $0.16 per share. This is an increase from Torchmark’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, April 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.74%. Torchmark’s dividend payout ratio is presently 3.04%.
Several analysts have recently commented on TMK shares. ValuEngine upgraded shares of Torchmark from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Co 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. Finally, UBS Group assumed coverage on shares of Torchmark in a research note on Friday, March 2nd. They set a “sell” rating and a $83.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $83.14.
In other Torchmark news, Chairman Gary L. Coleman sold 24,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $86.25, for a total transaction of $2,070,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Frank M. Svoboda sold 12,375 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $86.88, for a total transaction of $1,075,140.00. Following the transaction, the chief financial officer now directly owns 105,828 shares in the company, valued at approximately $9,194,336.64. The disclosure for this sale can be found here. Insiders have sold 144,525 shares of company stock worth $12,841,853 in the last three months. Insiders own 3.79% of the company’s stock.
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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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