Mitchell Mcleod Pugh & Williams Inc. lowered its position in Torchmark Corporation (NYSE:TMK) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,282 shares of the insurance provider’s stock after selling 270 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Torchmark Corporation were worth $940,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised its stake in Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock worth $187,000 after buying an additional 69 shares in the last quarter. Global X Management Co. LLC raised its stake in Torchmark Corporation by 539.3% in the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock worth $193,000 after buying an additional 2,114 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Torchmark Corporation during the first quarter worth approximately $205,000. Aull & Monroe Investment Management Corp acquired a new stake in Torchmark Corporation during the first quarter worth approximately $206,000. Finally, Dai Ichi Life Insurance Company Ltd acquired a new stake in Torchmark Corporation during the first quarter worth approximately $206,000. 74.84% of the stock is currently owned by institutional investors.
Torchmark Corporation (NYSE:TMK) traded down 0.14% on Wednesday, reaching $78.75. The company’s stock had a trading volume of 351,257 shares. The firm’s 50-day moving average price is $78.20 and its 200 day moving average price is $76.79. The company has a market cap of $9.16 billion, a P/E ratio of 16.94 and a beta of 0.98. Torchmark Corporation has a 52-week low of $61.96 and a 52-week high of $79.90.
Torchmark Corporation (NYSE:TMK) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. Equities analysts anticipate that Torchmark Corporation will post $4.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Wednesday, July 5th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, June 30th. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
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A number of research analysts recently issued reports on the company. BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded Torchmark Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. ValuEngine downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $78.00 price objective on shares of Torchmark Corporation in a report on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $73.33.
In other news, Director Robert W. Ingram sold 1,827 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $78.66, for a total value of $143,711.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Henry Rogers, Jr. sold 1,875 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $79.25, for a total value of $148,593.75. Following the completion of the transaction, the insider now directly owns 1,875 shares of the company’s stock, valued at $148,593.75. The disclosure for this sale can be found here. Insiders have sold a total of 142,321 shares of company stock valued at $11,175,453 over the last three months. Corporate insiders own 3.79% of the company’s stock.
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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