Beck Mack & Oliver LLC maintained its stake in shares of Torchmark Corp. (NYSE:TMK) during the second quarter, Holdings Channel reports. The fund owned 32,850 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Torchmark Corp. were worth $2,031,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of TMK. Bank of Montreal Can bought a new stake in shares of Torchmark Corp. during the second quarter worth approximately $11,270,000. NN Investment Partners Holdings N.V. raised its stake in shares of Torchmark Corp. by 11.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,745,355 shares of the company’s stock worth $107,898,000 after buying an additional 179,750 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Torchmark Corp. by 144.3% in the first quarter. Riverhead Capital Management LLC now owns 299,731 shares of the company’s stock worth $16,233,000 after buying an additional 177,032 shares in the last quarter. First Quadrant L P CA raised its stake in shares of Torchmark Corp. by 37.9% in the second quarter. First Quadrant L P CA now owns 346,725 shares of the company’s stock worth $21,435,000 after buying an additional 95,350 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Torchmark Corp. by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,326,787 shares of the company’s stock worth $180,179,000 after buying an additional 86,539 shares in the last quarter. 75.52% of the stock is owned by hedge funds and other institutional investors.
Torchmark Corp. (NYSE:TMK) traded up 0.275% during midday trading on Friday, hitting $63.795. The company’s stock had a trading volume of 207,631 shares. The firm has a market cap of $7.64 billion, a P/E ratio of 14.672 and a beta of 1.06. The company’s 50 day moving average price is $64.28 and its 200 day moving average price is $60.69. Torchmark Corp. has a 12 month low of $48.47 and a 12 month high of $65.60.
Torchmark Corp. (NYSE:TMK) last released its earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.02. Torchmark Corp. had a net margin of 13.85% and a return on equity of 12.19%. The firm earned $992 million during the quarter, compared to analyst estimates of $979.43 million. During the same period last year, the business earned $1.05 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. Analysts expect that Torchmark Corp. will post $4.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. Torchmark Corp.’s payout ratio is 12.84%.
A number of analysts have commented on TMK shares. Citigroup Inc. boosted their price objective on Torchmark Corp. from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Zacks Investment Research raised Torchmark Corp. from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, September 27th. Royal Bank Of Canada boosted their price objective on Torchmark Corp. from $53.00 to $55.00 and gave the stock an “underperform” rating in a report on Monday, August 1st. Wells Fargo & Co. reissued an “underperform” rating on shares of Torchmark Corp. in a report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. raised Torchmark Corp. from a “sell” rating to a “neutral” rating and upped their target price for the company from $54.00 to $60.00 in a report on Friday, July 15th. Five investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $59.17.
In related news, insider Bill Leavell sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $62.08, for a total transaction of $1,564,416.00. Following the completion of the sale, the insider now owns 45,534 shares of the company’s stock, valued at $2,826,750.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Henry Rogers, Jr. sold 875 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $65.03, for a total transaction of $56,901.25. Following the sale, the insider now directly owns 875 shares of the company’s stock, valued at approximately $56,901.25. The disclosure for this sale can be found here. Insiders own 3.96% of the company’s stock.
Torchmark Corp. Company Profile
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.