Natixis Advisors L.P. boosted its holdings in Torchmark Co. (NYSE:TMK) by 61.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,969 shares of the insurance provider’s stock after purchasing an additional 8,384 shares during the quarter. Natixis Advisors L.P.’s holdings in Torchmark were worth $1,637,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Torchmark during the 4th quarter worth approximately $72,000. Oakworth Capital Inc. raised its holdings in shares of Torchmark by 7.1% during the 4th quarter. Oakworth Capital Inc. now owns 26,832 shares of the insurance provider’s stock worth $2,000,000 after acquiring an additional 1,786 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Torchmark by 13.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,965 shares of the insurance provider’s stock worth $2,010,000 after acquiring an additional 3,212 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Torchmark during the 4th quarter worth approximately $1,996,000. Finally, Hsbc Holdings PLC raised its holdings in shares of Torchmark by 180.0% during the 4th quarter. Hsbc Holdings PLC now owns 359,799 shares of the insurance provider’s stock worth $26,807,000 after acquiring an additional 231,320 shares in the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.
NYSE:TMK opened at $80.31 on Friday. Torchmark Co. has a fifty-two week low of $69.68 and a fifty-two week high of $89.62. The firm has a market cap of $9.04 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.06 and a current ratio of 0.06.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 0.86%. This is a positive change from Torchmark’s previous quarterly dividend of $0.16. Torchmark’s dividend payout ratio is presently 10.44%.
In related news, EVP Robert Brian Mitchell sold 12,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $81.67, for a total transaction of $980,040.00. Following the sale, the executive vice president now owns 51,808 shares in the company, valued at approximately $4,231,159.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Frank M. Svoboda sold 15,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $82.72, for a total value of $1,240,800.00. Following the completion of the sale, the chief financial officer now owns 121,533 shares in the company, valued at approximately $10,053,209.76. The disclosure for this sale can be found here. Insiders have sold a total of 84,010 shares of company stock worth $6,963,281 in the last 90 days. 3.68% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on TMK. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Saturday, January 5th. ValuEngine raised Torchmark from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, JPMorgan Chase & Co. raised Torchmark from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus 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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