Leith Wheeler Investment Counsel Ltd. Has $1.73 Million Holdings in Torchmark Corporation (TMK)
Leith Wheeler Investment Counsel Ltd. raised its position in shares of Torchmark Corporation (NYSE:TMK) by 16.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,114 shares of the insurance provider’s stock after buying an additional 3,200 shares during the quarter. Torchmark Corporation accounts for 0.7% of Leith Wheeler Investment Counsel Ltd.’s portfolio, making the stock its 18th largest position. Leith Wheeler Investment Counsel Ltd.’s holdings in Torchmark Corporation were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings 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. Janus Henderson Group PLC increased its holdings in shares of Torchmark Corporation by 14,667.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,531,462 shares of the insurance provider’s stock valued at $193,657,000 after purchasing an additional 2,514,320 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Torchmark Corporation by 11.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,331,664 shares of the insurance provider’s stock valued at $101,872,000 after purchasing an additional 134,897 shares during the period. Janus Capital Management LLC increased its holdings 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. Finally, SPF Beheer BV increased its holdings in shares of Torchmark Corporation by 2.1% in the 2nd quarter. SPF Beheer BV now owns 852,037 shares of the insurance provider’s stock valued at $65,181,000 after purchasing an additional 17,713 shares during the period. 71.77% of the stock is owned by institutional investors.
In related news, insider Steven John Dichiaro sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $79.02, for a total transaction of $1,027,260.00. Following the transaction, the insider now directly owns 21,360 shares of the company’s stock, valued at approximately $1,687,867.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Ingram sold 1,827 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $78.66, for a total value of $143,711.82. The disclosure for this sale can be found here. Insiders have sold a total of 137,821 shares of company stock worth $10,837,593 in the last ninety days. Insiders own 3.79% of the company’s stock.
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A number of equities analysts have recently weighed in on the company. BidaskClub downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) assumed coverage on Torchmark Corporation in a report on Wednesday. They issued a “neutral” rating and a $83.00 target price on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 target price on shares of Torchmark Corporation in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $75.83.
Shares of Torchmark Corporation (NYSE:TMK) traded up 0.46% during trading on Wednesday, reaching $82.27. The company’s stock had a trading volume of 78,821 shares. The company has a market cap of $9.57 billion, a PE ratio of 17.70 and a beta of 1.00. Torchmark Corporation has a 52 week low of $62.86 and a 52 week high of $82.43. The stock’s 50 day moving average price is $78.57 and its 200 day moving average price is $77.27.
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, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.11 EPS. Equities research analysts predict that Torchmark Corporation will post $4.75 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Thursday, October 5th. Torchmark Corporation’s dividend payout ratio (DPR) is 12.88%.
Torchmark Corporation 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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