Torchmark Corporation (NYSE:TMK) Stake Lowered by Hartford Investment Management Co.
Hartford Investment Management Co. lowered its position in shares of Torchmark Corporation (NYSE:TMK) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,586 shares of the insurance provider’s stock after selling 785 shares during the period. Hartford Investment Management Co.’s holdings in Torchmark Corporation were worth $2,263,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in TMK. Bronfman E.L. Rothschild L.P. raised its stake in shares of Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock worth $187,000 after buying an additional 69 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Torchmark Corporation by 539.3% in the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock worth $193,000 after buying an additional 2,114 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Torchmark Corporation during the first quarter worth $205,000. Aull & Monroe Investment Management Corp bought a new stake in shares of Torchmark Corporation during the first quarter worth $206,000. Finally, Dai Ichi Life Insurance Company Ltd bought a new stake in shares of Torchmark Corporation during the first quarter worth $206,000. Institutional investors own 74.96% of the company’s stock.
Torchmark Corporation (NYSE:TMK) traded up 0.53% during midday trading on Friday, hitting $79.26. 92,823 shares of the stock traded hands. The company’s 50-day moving average is $77.49 and its 200 day moving average is $76.44. The firm has a market cap of $9.27 billion, a P/E ratio of 17.03 and a beta of 0.98. Torchmark Corporation has a 12-month low of $60.92 and a 12-month high of $79.53.
Torchmark Corporation (NYSE:TMK) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.70%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 earnings per share. On average, analysts anticipate that Torchmark Corporation will post $4.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.60 annualized dividend and a yield of 0.76%. Torchmark Corporation’s dividend payout ratio (DPR) is 12.88%.
A number of brokerages recently weighed in on TMK. BidaskClub upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research lowered shares of Torchmark Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. ValuEngine lowered shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $78.00 price objective on shares of Torchmark Corporation in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $73.00.
In other news, Director Lloyd W. Newton bought 2,500 shares of Torchmark Corporation stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average price of $75.28 per share, with a total value of $188,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gary L. Coleman sold 37,500 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $78.57, for a total transaction of $2,946,375.00. Following the sale, the chairman now directly owns 666,875 shares in the company, valued at approximately $52,396,368.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,577 shares of company stock worth $7,256,884. 3.79% of the stock is owned by corporate insiders.
About Torchmark Corporation
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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