352,900 Shares in Torchmark Corporation (TMK) Purchased by Renaissance Technologies LLC
Renaissance Technologies LLC purchased a new stake in Torchmark Corporation (NYSE:TMK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 352,900 shares of the insurance provider’s stock, valued at approximately $26,997,000. Renaissance Technologies LLC owned 0.30% of Torchmark Corporation as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Torchmark Corporation by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 12,040,805 shares of the insurance provider’s stock valued at $921,122,000 after purchasing an additional 122,391 shares during the period. BlackRock Inc. boosted its position in shares of Torchmark Corporation by 2,764.7% in the 1st quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock valued at $576,118,000 after purchasing an additional 7,217,094 shares during the period. State Street Corp boosted its position in shares of Torchmark Corporation by 2.6% in the 1st quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock valued at $450,848,000 after purchasing an additional 150,546 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Torchmark Corporation by 11.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,196,767 shares of the insurance provider’s stock valued at $92,199,000 after purchasing an additional 127,185 shares during the period. Finally, Janus Capital Management LLC boosted its position in shares of Torchmark Corporation by 205.9% in the 1st quarter. Janus Capital Management LLC now owns 1,139,756 shares of the insurance provider’s stock valued at $87,806,000 after purchasing an additional 767,124 shares during the period. Institutional investors and hedge funds own 71.93% of the company’s stock.
Shares of Torchmark Corporation (NYSE:TMK) opened at 80.81 on Friday. The stock’s 50 day moving average price is $77.95 and its 200-day moving average price is $77.10. The stock has a market capitalization of $9.40 billion, a P/E ratio of 17.38 and a beta of 1.00. Torchmark Corporation has a 1-year low of $62.86 and a 1-year high of $81.17.
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 consensus estimate of $1.17 by $0.02. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. Torchmark Corporation’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. Equities research analysts anticipate that Torchmark Corporation will post $4.75 EPS for the current fiscal 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 given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.74%. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
A number of equities research analysts have commented on TMK shares. BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered Torchmark Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $78.00 price objective on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Finally, Barclays PLC raised their price objective on Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a research report on Friday, August 11th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $74.40.
In other news, Director Robert W. Ingram sold 1,827 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $78.66, for a total transaction of $143,711.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Arvelia Bowie sold 16,875 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 137,821 shares of company stock valued at $10,837,593 over the last ninety days. 3.79% of the stock is owned by insiders.
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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