SPF Beheer BV Grows Position in Torchmark Corporation (TMK)
SPF Beheer BV increased its holdings in Torchmark Corporation (NYSE:TMK) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 906,971 shares of the insurance provider’s stock after purchasing an additional 54,934 shares during the quarter. Torchmark Corporation accounts for 3.1% of SPF Beheer BV’s holdings, making the stock its 16th biggest position. SPF Beheer BV owned about 0.78% of Torchmark Corporation worth $72,639,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Girard Partners LTD. raised its holdings in shares of Torchmark Corporation by 0.3% during the second quarter. Girard Partners LTD. now owns 3,844 shares of the insurance provider’s stock valued at $294,000 after acquiring an additional 12 shares during the period. Wetherby Asset Management Inc. raised its holdings in shares of Torchmark Corporation by 0.6% during the second quarter. Wetherby Asset Management Inc. now owns 4,346 shares of the insurance provider’s stock valued at $332,000 after acquiring an additional 27 shares during the period. Sentry Investment Management LLC raised its holdings in shares of Torchmark Corporation by 2.0% during the second quarter. Sentry Investment Management LLC now owns 4,750 shares of the insurance provider’s stock valued at $363,000 after acquiring an additional 91 shares during the period. Thrivent Financial For Lutherans increased its stake in Torchmark Corporation by 3.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,140 shares of the insurance provider’s stock valued at $317,000 after buying an additional 120 shares during the period. Finally, Flinton Capital Management LLC increased its stake in Torchmark Corporation by 1.4% in the 2nd quarter. Flinton Capital Management LLC now owns 16,528 shares of the insurance provider’s stock valued at $1,264,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 73.16% of the company’s stock.
In other news, VP Michael Clay Majors sold 7,500 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $84.71, for a total value of $635,325.00. Following the completion of the transaction, the vice president now owns 10,760 shares in the company, valued at approximately $911,479.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Gary L. Coleman sold 37,500 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $83.28, for a total transaction of $3,123,000.00. Following the completion of the transaction, the chairman now owns 666,875 shares of the company’s stock, valued at approximately $55,537,350. The disclosure for this sale can be found here. Over the last three months, insiders sold 163,085 shares of company stock valued at $13,701,414. Insiders own 3.79% of the company’s stock.
Torchmark Corporation (TMK) traded down $0.36 during midday trading on Tuesday, hitting $85.08. 420,400 shares of the company traded hands, compared to its average volume of 437,639. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. The company has a market cap of $9,820.00, a P/E ratio of 18.06, a P/E/G ratio of 2.48 and a beta of 1.01. Torchmark Corporation has a fifty-two week low of $69.55 and a fifty-two week high of $86.50.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Torchmark Corporation had a net margin of 13.80% and a return on equity of 11.60%. Torchmark Corporation’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 EPS. sell-side analysts anticipate that Torchmark Corporation will post 4.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, January 4th. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.93%.
TMK has been the topic of several research reports. Zacks Investment Research upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Thursday, October 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a research note on Sunday, October 8th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Torchmark Corporation in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price objective on the stock. Barclays PLC upped their price objective on shares of Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research note on Friday, August 11th. Finally, BidaskClub upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $78.86.
Torchmark Corporation Company 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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