Rothschild Asset Management Inc. Takes Position in Torchmark Corporation (NYSE:TMK)
Rothschild Asset Management Inc. bought a new position in shares of Torchmark Corporation (NYSE:TMK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,889 shares of the insurance provider’s stock, valued at approximately $604,000.
Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Torchmark Corporation during the fourth quarter worth approximately $5,650,000. Teachers Advisors LLC increased its position in shares of Torchmark Corporation by 5.5% in the fourth quarter. Teachers Advisors LLC now owns 146,733 shares of the insurance provider’s stock valued at $10,823,000 after buying an additional 7,712 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Torchmark Corporation by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 101,720 shares of the insurance provider’s stock valued at $7,836,000 after buying an additional 2,202 shares in the last quarter. Creative Planning increased its position in shares of Torchmark Corporation by 0.3% in the first quarter. Creative Planning now owns 7,594 shares of the insurance provider’s stock valued at $585,000 after buying an additional 25 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Torchmark Corporation by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 36,461 shares of the insurance provider’s stock valued at $2,808,000 after buying an additional 100 shares in the last quarter. Institutional investors own 74.74% of the company’s stock.
Torchmark Corporation (NYSE TMK) opened at 78.45 on Friday. The firm has a market capitalization of $9.18 billion, a P/E ratio of 16.85 and a beta of 0.98. The stock’s 50 day moving average price is $77.87 and its 200 day moving average price is $76.65. Torchmark Corporation has a 12 month low of $60.92 and a 12 month high of $79.90.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.70%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.11 earnings per share. On average, analysts forecast that Torchmark Corporation will post $4.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Wednesday, July 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, June 30th. Torchmark Corporation’s payout ratio is 12.88%.
WARNING: This article was originally published by Daily Political and is owned by of Daily Political. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/08/11/rothschild-asset-management-inc-takes-position-in-torchmark-corporation-nysetmk.html.
TMK has been the subject of several analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $75.00 price objective on shares of Torchmark Corporation in a research report on Friday, May 26th. Zacks Investment Research upgraded Torchmark Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday, May 26th. BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, ValuEngine downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Four 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 has an average rating of “Hold” and an average price target of $73.00.
In other news, Director Robert W. Ingram sold 1,827 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $78.66, for a total transaction of $143,711.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 of the company’s stock, valued at approximately $52,396,368.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,577 shares of company stock valued at $7,256,884. Company insiders own 3.79% of the company’s stock.
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.
Want to see what other hedge funds are holding TMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Torchmark Corporation (NYSE:TMK).
Receive News & Ratings for Torchmark Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark Corporation and related companies with MarketBeat.com's FREE daily email newsletter.