Tokio Marine Asset Management Co. Ltd. held its stake in Torchmark Corp. (NYSE:TMK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,412 shares of the company’s stock at the end of the second quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Torchmark Corp. were worth $335,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in shares of Torchmark Corp. by 7.7% in the second quarter. State of Alaska Department of Revenue now owns 2,542 shares of the company’s stock worth $157,000 after buying an additional 181 shares during the period. Capital Investment Services of America Inc. bought a new position in shares of Torchmark Corp. during the second quarter worth approximately $214,000. Bessemer Group Inc. boosted its position in shares of Torchmark Corp. by 617.8% in the first quarter. Bessemer Group Inc. now owns 3,589 shares of the company’s stock worth $194,000 after buying an additional 3,089 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Torchmark Corp. during the first quarter worth approximately $215,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Torchmark Corp. during the first quarter worth approximately $359,000. 75.52% of the stock is currently owned by hedge funds and other institutional investors.
Torchmark Corp. (NYSE:TMK) traded down 1.20% on Thursday, hitting $63.62. The stock had a trading volume of 395,278 shares. The company has a 50-day moving average price of $64.27 and a 200 day moving average price of $60.67. Torchmark Corp. has a 52-week low of $48.47 and a 52-week high of $65.60. The firm has a market cap of $7.62 billion, a PE ratio of 14.63 and a beta of 1.06.
Torchmark Corp. (NYSE:TMK) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.02. Torchmark Corp. had a return on equity of 12.19% and a net margin of 13.85%. The firm had revenue of $992 million for the quarter, compared to the consensus estimate of $979.43 million. During the same period in the prior year, the business posted $1.05 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts forecast that Torchmark Corp. will post $4.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.56 annualized dividend and a yield of 0.88%. Torchmark Corp.’s dividend payout ratio (DPR) is currently 12.84%.
TMK has been the topic of a number of recent analyst reports. Wells Fargo & Co. reiterated an “underperform” rating on shares of Torchmark Corp. in a research report on Friday, September 23rd. Zacks Investment Research upgraded Torchmark Corp. from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, September 27th. Evercore ISI initiated coverage on Torchmark Corp. in a research report on Wednesday, July 6th. They issued a “hold” rating and a $63.00 price objective on the stock. RBC Capital Markets reiterated an “underperform” rating and issued a $55.00 price objective (up from $53.00) on shares of Torchmark Corp. in a research report on Monday, August 1st. Finally, Deutsche Bank AG lifted their price objective on Torchmark Corp. from $56.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.17.
In related news, CFO Frank M. Svoboda sold 21,250 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $61.94, for a total value of $1,316,225.00. Following the transaction, the chief financial officer now owns 92,004 shares of the company’s stock, valued at $5,698,727.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gary L. Coleman sold 37,500 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $62.06, for a total value of $2,327,250.00. Following the completion of the transaction, the chairman now directly owns 625,581 shares in the company, valued at approximately $38,823,556.86. The disclosure for this sale can be found here. 3.96% of the stock is owned by corporate insiders.
About Torchmark Corp.
Torchmark Corporation is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance.