Torchmark Corporation (NYSE:TMK) Position Reduced by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado decreased its stake in shares of Torchmark Corporation (NYSE:TMK) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,364 shares of the insurance provider’s stock after selling 139 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Torchmark Corporation were worth $1,787,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its position 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 valued at $187,000 after buying an additional 69 shares during the period. Global X Management Co. LLC boosted its position 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 valued at $193,000 after buying an additional 2,114 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Torchmark Corporation during the first quarter valued at about $205,000. Aull & Monroe Investment Management Corp purchased a new position in shares of Torchmark Corporation during the first quarter valued at about $206,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new position in shares of Torchmark Corporation during the first quarter valued at about $206,000. 74.74% of the stock is currently owned by hedge funds and other institutional investors.
Torchmark Corporation (TMK) opened at 78.16 on Friday. Torchmark Corporation has a one year low of $61.39 and a one year high of $79.90. The company has a 50 day moving average price of $77.94 and a 200-day moving average price of $76.68. The firm has a market capitalization of $9.09 billion, a PE ratio of 16.81 and a beta of 0.98.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% 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 quarter in the prior year, the business posted $1.11 EPS. On average, equities analysts predict that Torchmark Corporation will post $4.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders 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 0.77%. The ex-dividend date was Friday, June 30th. Torchmark Corporation’s dividend payout ratio (DPR) is currently 12.88%.
Several brokerages have recently issued reports on TMK. BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $78.00 price target on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 price target on the stock in a research report on Friday, July 28th. Finally, Barclays PLC lifted their price target on Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.33.
In related news, EVP Vern D. Herbel sold 27,500 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $78.62, for a total value of $2,162,050.00. Following the completion of the sale, the executive vice president now owns 56,943 shares in the company, valued at approximately $4,476,858.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Gary L. Coleman sold 37,500 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $78.57, for a total transaction of $2,946,375.00. Following the completion of the sale, the chairman now 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 three months, insiders sold 120,077 shares of company stock worth $9,418,934. 3.79% of the stock is currently owned by company 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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