Royal London Asset Management Ltd. decreased its stake in Torchmark Co. (NYSE:TMK) by 17.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,651 shares of the insurance provider’s stock after selling 7,690 shares during the period. Royal London Asset Management Ltd.’s holdings in Torchmark were worth $3,085,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. CSat Investment Advisory L.P. grew its stake in shares of Torchmark by 60.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 407 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 153 shares during the last quarter. Arbor Wealth Management LLC bought a new position in Torchmark in the fourth quarter worth $38,000. Captrust Financial Advisors bought a new position in Torchmark in the fourth quarter worth $45,000. Quadrant Capital Group LLC lifted its position in Torchmark by 773.4% in the first quarter. Quadrant Capital Group LLC now owns 690 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 611 shares during the period. Finally, Capital Financial Planning LLC bought a new position in Torchmark in the fourth quarter worth $56,000. Institutional investors and hedge funds own 76.03% of the company’s stock.
Separately, Zacks Investment Research cut Torchmark from a “buy” rating to a “sell” rating in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $85.75.
In other Torchmark news, CEO Larry M. Hutchison sold 12,000 shares of Torchmark stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $87.05, for a total transaction of $1,044,600.00. Following the completion of the transaction, the chief executive officer now directly owns 610,510 shares of the company’s stock, valued at $53,144,895.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Ingram sold 290 shares of Torchmark stock in a transaction on Monday, April 29th. The shares were sold at an average price of $87.85, for a total value of $25,476.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 284,038 shares of company stock valued at $24,463,754. Company insiders own 3.64% of the company’s stock.
TMK stock traded up $0.53 during midday trading on Wednesday, hitting $86.81. The stock had a trading volume of 521,800 shares, compared to its average volume of 502,170. The stock has a market cap of $9.59 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01. Torchmark Co. has a 52 week low of $69.68 and a 52 week high of $91.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06.
Torchmark (NYSE:TMK) last issued its earnings results on Wednesday, April 17th. The insurance provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Torchmark had a return on equity of 12.75% and a net margin of 16.37%. Torchmark’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $1.47 earnings per share. Equities research analysts anticipate that Torchmark Co. will post 6.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.1725 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.79%. Torchmark’s payout ratio is presently 11.26%.
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Torchmark Company Profile
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, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.
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