Meiji Yasuda Life Insurance Co Acquires Shares of 4,820 Torchmark Co. (NYSE:TMK)

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Meiji Yasuda Life Insurance Co acquired a new position in shares of Torchmark Co. (NYSE:TMK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,820 shares of the insurance provider’s stock, valued at approximately $395,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc grew its position in Torchmark by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 12,664,337 shares of the insurance provider’s stock worth $1,097,870,000 after purchasing an additional 210,422 shares in the last quarter. FMR LLC grew its position in Torchmark by 10.2% during the 4th quarter. FMR LLC now owns 2,820,235 shares of the insurance provider’s stock worth $210,192,000 after purchasing an additional 260,809 shares in the last quarter. Geode Capital Management LLC grew its position in Torchmark by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 1,457,051 shares of the insurance provider’s stock worth $108,420,000 after purchasing an additional 89,972 shares in the last quarter. Acadian Asset Management LLC grew its position in Torchmark by 22.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,409,739 shares of the insurance provider’s stock worth $115,529,000 after purchasing an additional 262,077 shares in the last quarter. Finally, Northern Trust Corp grew its position in Torchmark by 1.2% during the 4th quarter. Northern Trust Corp now owns 1,254,449 shares of the insurance provider’s stock worth $93,493,000 after purchasing an additional 15,138 shares in the last quarter. Hedge funds and other institutional investors own 76.01% of the company’s stock.

Shares of NYSE:TMK opened at $88.53 on Friday. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.67 and a beta of 0.97. Torchmark Co. has a 12-month low of $69.68 and a 12-month high of $91.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06.

Torchmark (NYSE:TMK) last issued its earnings results on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Torchmark had a net margin of 16.37% and a return on equity of 12.75%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.47 EPS. Equities analysts forecast that Torchmark Co. will post 6.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Wednesday, July 3rd. Torchmark’s dividend payout ratio (DPR) is currently 11.26%.

In other Torchmark news, insider Kenneth J. Matson sold 8,000 shares of Torchmark stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $81.16, for a total transaction of $649,280.00. Following the completion of the sale, the insider now owns 25,434 shares of the company’s stock, valued at approximately $2,064,223.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Ingram sold 290 shares of Torchmark stock in a transaction on Monday, April 29th. The shares were sold at an average price of $87.85, for a total transaction of $25,476.50. The disclosure for this sale can be found here. Insiders have sold a total of 238,028 shares of company stock valued at $20,741,003 in the last three months. Company insiders own 3.64% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Torchmark presently has an average rating of “Hold” and an average target price of $85.75.

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Torchmark Profile

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.

Further Reading: Technical Indicators – What is a Golden Cross?

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Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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