Fiduciary Trust Co. reduced its holdings in Torchmark Corporation (NYSE:TMK) by 39.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,803 shares of the insurance provider’s stock after selling 6,375 shares during the quarter. Fiduciary Trust Co.’s holdings in Torchmark Corporation were worth $750,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Torchmark Corporation by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock valued at $918,194,000 after buying an additional 458,913 shares during the period. BlackRock Inc. lifted its holdings in shares of Torchmark Corporation by 2,764.7% in the 1st quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock valued at $576,118,000 after buying an additional 7,217,094 shares during the period. State Street Corp lifted its holdings in shares of Torchmark Corporation by 2.6% in the 1st quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock valued at $450,848,000 after buying an additional 150,546 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Torchmark Corporation by 1.2% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,023,143 shares of the insurance provider’s stock valued at $156,033,000 after buying an additional 23,100 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Torchmark Corporation by 11.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,196,767 shares of the insurance provider’s stock valued at $92,199,000 after buying an additional 127,185 shares during the period. 71.94% of the stock is owned by institutional investors and hedge funds.
In other news, Director Charles E. Adair sold 9,244 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $78.89, for a total value of $729,259.16. Following the completion of the sale, the director now owns 20,613 shares in the company, valued at $1,626,159.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Ingram sold 1,827 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $78.66, for a total transaction 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 valued at $10,837,593 in the last quarter. Insiders own 3.79% of the company’s stock.
Several analysts have recently commented on the company. ValuEngine cut Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. BidaskClub cut Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised 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. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $78.00 price objective on shares of Torchmark Corporation in a report on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Torchmark Corporation has a consensus rating of “Hold” and an average price target of $73.00.
Shares of Torchmark Corporation (NYSE:TMK) traded down 0.05% during trading on Friday, reaching $76.89. The company had a trading volume of 159,330 shares. The stock’s 50-day moving average price is $77.70 and its 200-day moving average price is $76.97. The stock has a market capitalization of $8.94 billion, a PE ratio of 16.54 and a beta of 0.98. Torchmark Corporation has a 12 month low of $62.86 and a 12 month high of $79.90.
Torchmark Corporation (NYSE:TMK) last released its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $1.11 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts forecast that Torchmark Corporation will post $4.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.78%. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.88%.
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Torchmark Corporation Profile
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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