WEALTHFRONT Corp Invests $873,000 in Torchmark Co. (TMK)

WEALTHFRONT Corp bought a new position in shares of Torchmark Co. (NYSE:TMK) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,074 shares of the insurance provider’s stock, valued at approximately $873,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC grew its stake in shares of Torchmark by 5.8% during the third quarter. FMR LLC now owns 2,559,426 shares of the insurance provider’s stock worth $221,877,000 after buying an additional 139,310 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Torchmark by 1.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,967,908 shares of the insurance provider’s stock worth $160,207,000 after purchasing an additional 19,800 shares during the last quarter. Boston Partners grew its stake in shares of Torchmark by 2.0% in the second quarter. Boston Partners now owns 1,562,482 shares of the insurance provider’s stock worth $127,202,000 after purchasing an additional 30,116 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Torchmark by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 1,498,890 shares of the insurance provider’s stock worth $122,025,000 after purchasing an additional 203,149 shares during the last quarter. Finally, SPF Beheer BV grew its stake in shares of Torchmark by 2.0% in the second quarter. SPF Beheer BV now owns 912,142 shares of the insurance provider’s stock worth $74,257,000 after purchasing an additional 17,509 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

TMK stock opened at $80.25 on Friday. The firm has a market capitalization of $9.03 billion, a P/E ratio of 13.89, a PEG ratio of 0.96 and a beta of 0.86. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.25. Torchmark Co. has a 12-month low of $79.37 and a 12-month high of $93.60.

Torchmark (NYSE:TMK) last released its earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.06. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. Torchmark had a net margin of 36.42% and a return on equity of 11.70%. Equities analysts anticipate that Torchmark Co. will post 6.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Friday, January 4th will be issued a $0.16 dividend. The ex-dividend date is Thursday, January 3rd. This represents a $0.64 annualized dividend and a yield of 0.80%. Torchmark’s payout ratio is 13.28%.

Several analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Torchmark from $81.00 to $83.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 13th. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. SunTrust Banks reduced their price objective on shares of Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Finally, Goldman Sachs Group cut shares of Torchmark from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $92.00 to $78.00 in a research note on Monday, September 10th. Four analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.86.

In other news, CFO Frank M. Svoboda sold 12,375 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $87.70, for a total transaction of $1,085,287.50. Following the completion of the sale, the chief financial officer now directly owns 105,828 shares of the company’s stock, valued at $9,281,115.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Henry Rogers, Jr. sold 1,875 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $88.16, for a total transaction of $165,300.00. Following the sale, the insider now directly owns 1,875 shares of the company’s stock, valued at $165,300. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,461 shares of company stock worth $1,268,301. 3.68% of the stock is owned by company insiders.

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About Torchmark

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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Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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