Torchmark Corporation (TMK) Shares Sold by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky lowered its holdings in Torchmark Corporation (NYSE:TMK) by 22.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,650 shares of the insurance provider’s stock after selling 2,750 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Torchmark Corporation were worth $738,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TMK. Global X Management Co. LLC lifted its holdings 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 purchasing an additional 2,114 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Torchmark Corporation in the first quarter valued at $205,000. Twin Tree Management LP purchased a new stake in shares of Torchmark Corporation in the second quarter valued at $213,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Torchmark Corporation by 21.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock valued at $225,000 after purchasing an additional 515 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of Torchmark Corporation by 46.3% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,072 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 972 shares in the last quarter. Institutional investors own 71.93% of the company’s stock.
A number of research firms have recently issued reports on TMK. Keefe, Bruyette & Woods restated a “hold” rating and issued a $78.00 target price on shares of Torchmark Corporation in a report on Sunday, October 8th. BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Barclays PLC increased their target price on Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $74.40.
Torchmark Corporation (NYSE TMK) opened at 81.61 on Friday. The stock has a 50 day moving average of $78.57 and a 200-day moving average of $77.26. The firm has a market capitalization of $9.61 billion, a P/E ratio of 18.16 and a beta of 1.00. Torchmark Corporation has a 1-year low of $62.86 and a 1-year high of $81.92.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.11 earnings per share. On average, equities research analysts anticipate that Torchmark Corporation will post $4.75 earnings per share for the current year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.74%. Torchmark Corporation’s dividend payout ratio is 12.88%.
In other news, insider Roger C. Smith sold 30,000 shares of Torchmark Corporation stock in a transaction on Friday, July 28th. The shares were sold at an average price of $78.55, for a total transaction 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 legal filing with the SEC, which is available at the SEC website. Also, Chairman Gary L. Coleman sold 37,500 shares of Torchmark Corporation stock in a transaction 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 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. Over the last three months, insiders have sold 137,821 shares of company stock worth $10,837,593. 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.
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