Boston Advisors LLC Sells 150 Shares of Torchmark Corporation (NYSE:TMK)
Boston Advisors LLC lowered its stake in Torchmark Corporation (NYSE:TMK) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 3,975 shares of the insurance provider’s stock after selling 150 shares during the period. Boston Advisors LLC’s holdings in Torchmark Corporation were worth $304,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Torchmark Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock worth $918,194,000 after buying an additional 458,913 shares during the period. BlackRock Inc. boosted its stake in shares of Torchmark Corporation by 2,764.7% in the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock worth $576,118,000 after buying an additional 7,217,094 shares during the period. State Street Corp boosted its stake in shares of Torchmark Corporation by 2.6% in the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock worth $450,848,000 after buying an additional 150,546 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Torchmark Corporation by 1.2% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,023,143 shares of the insurance provider’s stock worth $156,033,000 after buying an additional 23,100 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Torchmark Corporation by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,196,767 shares of the insurance provider’s stock worth $92,199,000 after buying an additional 127,185 shares during the period. 74.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Torchmark Corporation (NYSE TMK) traded up 0.29% during mid-day trading on Friday, hitting $79.07. The stock had a trading volume of 213,521 shares. Torchmark Corporation has a 1-year low of $60.92 and a 1-year high of $79.53. The stock’s 50-day moving average is $77.49 and its 200-day moving average is $76.44. The firm has a market capitalization of $9.25 billion, a PE ratio of 16.99 and a beta of 0.98.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.70% and a net margin of 13.96%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 earnings per share. Equities analysts expect that Torchmark Corporation will post $4.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, June 30th. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
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A number of analysts have recently commented on the company. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $78.00 price target on shares of Torchmark Corporation in a research note on Thursday. Zacks Investment Research raised Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 price target for the company in a research note on Friday, July 28th. Finally, ValuEngine raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. 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 stock. The stock presently has an average rating of “Hold” and an average target price of $73.00.
In related news, VP Arvelia Bowie sold 16,875 shares of Torchmark Corporation stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $78.45, for a total value of $1,323,843.75. Following the transaction, the vice president now directly owns 17,941 shares of the company’s stock, valued at $1,407,471.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Henry Rogers, Jr. sold 1,875 shares of Torchmark Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $79.25, for a total value of $148,593.75. Following the completion of the transaction, the insider now directly owns 1,875 shares in the company, valued at $148,593.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,577 shares of company stock worth $7,256,884. 3.79% of the stock is owned by 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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