Tredje AP fonden Sells 2,628 Shares of Torchmark Corporation (TMK)
Tredje AP fonden lowered its position in shares of Torchmark Corporation (NYSE:TMK) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,000 shares of the insurance provider’s stock after selling 2,628 shares during the quarter. Tredje AP fonden’s holdings in Torchmark Corporation were worth $1,763,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of TMK. BlackRock Inc. increased its holdings in shares of Torchmark Corporation by 2,764.7% during the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock valued at $576,118,000 after acquiring an additional 7,217,094 shares in the last quarter. Janus Capital Management LLC increased its holdings in shares of Torchmark Corporation by 205.9% during the first quarter. Janus Capital Management LLC now owns 1,139,756 shares of the insurance provider’s stock valued at $87,806,000 after acquiring an additional 767,124 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Torchmark Corporation by 4.0% during the first quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock valued at $918,194,000 after acquiring an additional 458,913 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Torchmark Corporation by 159.2% during the second quarter. BNP Paribas Arbitrage SA now owns 475,542 shares of the insurance provider’s stock valued at $36,379,000 after acquiring an additional 292,092 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Torchmark Corporation by 2.6% during the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock valued at $450,848,000 after acquiring an additional 150,546 shares in the last quarter. Hedge funds and other institutional investors own 71.94% of the company’s stock.
Shares of Torchmark Corporation (NYSE TMK) opened at 76.84 on Tuesday. Torchmark Corporation has a 1-year low of $62.86 and a 1-year high of $79.90. The company has a market capitalization of $8.94 billion, a P/E ratio of 16.53 and a beta of 0.98. The firm’s 50 day moving average price is $77.82 and its 200-day moving average price is $76.97.
Torchmark Corporation (NYSE:TMK) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.02. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business posted $1.11 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. Analysts expect that Torchmark Corporation will post $4.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, October 5th. Torchmark Corporation’s dividend payout ratio is presently 12.88%.
In other news, insider Roger C. Smith sold 30,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $78.55, for a total value of $2,356,500.00. Following the transaction, the insider now directly owns 65,685 shares of the company’s stock, valued at $5,159,556.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gary L. Coleman sold 37,500 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $78.57, for a total value of $2,946,375.00. Following the completion of the transaction, the chairman now directly owns 666,875 shares in the company, valued at $52,396,368.75. The disclosure for this sale can be found here. Insiders sold 137,821 shares of company stock worth $10,837,593 over the last three months. Corporate insiders own 3.79% of the company’s stock.
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Several equities analysts have recently weighed in on the company. ValuEngine downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. BidaskClub downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $78.00 price target on shares of Torchmark Corporation in a report on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Torchmark Corporation has an average rating of “Hold” and an average target price of $73.00.
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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