Edgestream Partners L.P. grew its stake in Torchmark Corporation (NYSE:TMK) by 37.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,951 shares of the insurance provider’s stock after purchasing an additional 1,627 shares during the period. Edgestream Partners L.P.’s holdings in Torchmark Corporation were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its holdings in Torchmark Corporation by 4.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 14,880 shares of the insurance provider’s stock worth $1,147,000 after purchasing an additional 610 shares during the last quarter. BlackRock Inc. raised its holdings in Torchmark Corporation by 2,764.7% during the 1st quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock worth $576,118,000 after purchasing an additional 7,217,094 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Torchmark Corporation by 2.2% during the 1st quarter. Victory Capital Management Inc. now owns 455,070 shares of the insurance provider’s stock worth $35,059,000 after purchasing an additional 9,591 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. raised its holdings in Torchmark Corporation by 21.5% during the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 19,914 shares of the insurance provider’s stock worth $1,523,000 after purchasing an additional 3,520 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its holdings in Torchmark Corporation by 9.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 83,343 shares of the insurance provider’s stock worth $6,376,000 after purchasing an additional 6,860 shares during the last quarter. Institutional investors own 71.94% of the company’s stock.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Torchmark Corporation from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Thursday. BidaskClub lowered shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Barclays PLC lifted their price objective on shares of Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research note on Friday, August 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a research note on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $73.00.
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Shares of Torchmark Corporation (NYSE:TMK) traded down 0.22% during trading on Friday, hitting $76.76. 124,160 shares of the company were exchanged. Torchmark Corporation has a 1-year low of $62.86 and a 1-year high of $79.90. The stock has a market capitalization of $8.93 billion, a PE ratio of 16.51 and a beta of 0.98. The company has a 50 day moving average of $77.70 and a 200-day moving average of $76.97.
Torchmark Corporation (NYSE:TMK) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share. On average, analysts forecast that Torchmark Corporation will post $4.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.78%. The ex-dividend date is Thursday, October 5th. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.88%.
In other Torchmark Corporation news, insider Roger C. Smith sold 30,000 shares of Torchmark Corporation stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $78.55, for a total value of $2,356,500.00. Following the sale, the insider now owns 65,685 shares of the company’s stock, valued at approximately $5,159,556.75. The transaction was disclosed in a filing with the SEC, which is accessible 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 shares were 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 three months. 3.79% of the stock is owned by corporate insiders.
About Torchmark Corporation
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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