Nomura Asset Management Co. Ltd. increased its position in shares of Torchmark Co. (NYSE:TMK) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,497 shares of the insurance provider’s stock after buying an additional 1,344 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Torchmark were worth $1,497,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Tiedemann Wealth Management LLC increased its stake in shares of Torchmark by 8.0% during the third quarter. Tiedemann Wealth Management LLC now owns 16,147 shares of the insurance provider’s stock valued at $127,000 after buying an additional 1,201 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in Torchmark by 63.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock valued at $144,000 after purchasing an additional 700 shares during the last quarter. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in Torchmark in the fourth quarter valued at about $149,000. Invictus RG purchased a new position in Torchmark in the third quarter valued at about $165,000. Finally, Cerebellum GP LLC purchased a new position in Torchmark in the fourth quarter valued at about $173,000. Hedge funds and other institutional investors own 74.74% of the company’s stock.
In other news, insider Roger C. Smith sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $90.64, for a total transaction of $2,719,200.00. Following the sale, the insider now owns 65,685 shares in the company, valued at $5,953,688.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Frank M. Svoboda sold 12,375 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $86.88, for a total value of $1,075,140.00. Following the sale, the chief financial officer now owns 105,828 shares in the company, valued at approximately $9,194,336.64. The disclosure for this sale can be found here. Insiders have sold 144,525 shares of company stock worth $12,841,853 in the last 90 days. Insiders own 3.79% of the company’s stock.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. UBS assumed coverage on Torchmark in a research note on Friday, March 2nd. They issued a “sell” rating and a $83.00 target price on the stock. ValuEngine upgraded Torchmark from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Wells Fargo set a $78.00 target price on Torchmark and gave the company a “sell” rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $83.14.
Torchmark Co. (TMK) opened at $85.59 on Friday. Torchmark Co. has a 52 week low of $73.99 and a 52 week high of $93.60. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $9,758.57, a PE ratio of 6.96, a price-to-earnings-growth ratio of 1.98 and a beta of 0.97.
Torchmark (NYSE:TMK) last posted its earnings results on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.01. Torchmark had a return on equity of 10.81% and a net margin of 34.99%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. equities research analysts expect that Torchmark Co. will post 6.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 3rd will be paid a dividend of $0.16 per share. This is a positive change from Torchmark’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, April 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.75%. Torchmark’s payout ratio is presently 4.88%.
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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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