Torchmark Co. (TMK) Position Reduced by Sheaff Brock Investment Advisors LLC
Sheaff Brock Investment Advisors LLC lowered its holdings in shares of Torchmark Co. (NYSE:TMK) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,092 shares of the insurance provider’s stock after selling 1,300 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Torchmark were worth $5,036,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TMK. Alliancebernstein L.P. boosted its holdings in Torchmark by 21.9% in the third quarter. Alliancebernstein L.P. now owns 222,686 shares of the insurance provider’s stock worth $19,305,000 after acquiring an additional 40,036 shares in the last quarter. Norinchukin Bank The lifted its holdings in shares of Torchmark by 11.5% in the third quarter. Norinchukin Bank The now owns 7,334 shares of the insurance provider’s stock valued at $636,000 after purchasing an additional 754 shares in the last quarter. Twin Capital Management Inc. lifted its holdings in shares of Torchmark by 18.1% in the third quarter. Twin Capital Management Inc. now owns 24,075 shares of the insurance provider’s stock valued at $2,087,000 after purchasing an additional 3,693 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Torchmark in the third quarter valued at approximately $234,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Torchmark by 3.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,422 shares of the insurance provider’s stock valued at $33,499,000 after purchasing an additional 13,266 shares in the last quarter. 75.13% of the stock is owned by institutional investors and hedge funds.
TMK has been the topic of a number of recent research reports. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Thursday, October 4th. SunTrust Banks dropped their target price on Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a report on Monday, October 29th. Goldman Sachs Group lowered Torchmark from a “neutral” rating to a “sell” rating and dropped their target price for the company from $92.00 to $78.00 in a report on Monday, September 10th. Finally, Morgan Stanley raised their target price on Torchmark from $81.00 to $83.00 and gave the company an “underweight” rating in a report on Tuesday, November 13th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $85.86.
TMK stock opened at $86.36 on Monday. Torchmark Co. has a twelve month low of $80.34 and a twelve month high of $93.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $9.64 billion, a PE ratio of 17.92, a P/E/G ratio of 1.03 and a beta of 0.86.
Torchmark (NYSE:TMK) last posted its earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.06. Torchmark had a return on equity of 11.70% and a net margin of 36.42%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. Equities research analysts anticipate that Torchmark Co. will post 6.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Friday, January 4th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. Torchmark’s dividend payout ratio (DPR) is currently 13.28%.
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Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
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