BRYN MAWR TRUST Co decreased its holdings in shares of Torchmark Co. (NYSE:TMK) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,247 shares of the insurance provider’s stock after selling 4,800 shares during the quarter. BRYN MAWR TRUST Co’s holdings in Torchmark were worth $3,197,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Meitav Dash Investments Ltd. acquired a new stake in shares of Torchmark during the 4th quarter worth approximately $1,215,000. MetLife Investment Advisors LLC acquired a new position in Torchmark during the fourth quarter valued at approximately $3,013,000. Element Capital Management LLC acquired a new position in Torchmark during the fourth quarter valued at approximately $5,225,000. LPL Financial LLC acquired a new position in Torchmark during the fourth quarter valued at approximately $279,000. Finally, Millennium Management LLC grew its holdings in Torchmark by 237.0% during the fourth quarter. Millennium Management LLC now owns 187,094 shares of the insurance provider’s stock valued at $16,971,000 after purchasing an additional 131,575 shares during the period. Institutional investors own 74.74% of the company’s stock.
TMK has been the subject of a number of analyst reports. ValuEngine upgraded shares of Torchmark from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Wells Fargo set a $78.00 price objective on shares of Torchmark and gave the company a “sell” rating in a report on Wednesday, February 7th. Finally, UBS initiated coverage on shares of Torchmark in a report on Friday, March 2nd. They set a “sell” rating and a $83.00 price objective for the company. Three equities research 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’s stock. The company has a consensus rating of “Hold” and a consensus price target of $83.14.
In other news, EVP James Matthew Darden sold 12,750 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $90.89, for a total value of $1,158,847.50. Following the completion of the transaction, the executive vice president now owns 16,500 shares in the company, valued at $1,499,685. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Frank M. Svoboda sold 12,375 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $86.88, for a total transaction of $1,075,140.00. Following the completion of the transaction, the chief financial officer now owns 105,828 shares of the company’s stock, valued at approximately $9,194,336.64. The disclosure for this sale can be found here. Insiders sold 114,525 shares of company stock valued at $10,122,653 in the last quarter. Corporate insiders own 3.79% of the company’s stock.
Torchmark stock opened at $86.06 on Thursday. The firm has a market cap of $9,747.16, a P/E ratio of 7.00, a PEG ratio of 1.98 and a beta of 0.97. Torchmark Co. has a 1-year low of $73.99 and a 1-year 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.
Torchmark (NYSE:TMK) last released its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.01. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Torchmark had a net margin of 34.99% and a return on equity of 10.81%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 earnings per share. sell-side analysts expect that Torchmark Co. will post 6.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 3rd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Monday, April 2nd. This is a boost from Torchmark’s previous quarterly dividend of $0.15. Torchmark’s dividend payout ratio is 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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