Today: 330,683 Shares of Torchmark Corp. (TMK) are sold by Pzena Investment Management LLC

Today: 330,683 Shares of Torchmark Corp. (TMK) are sold by Pzena Investment Management LLC

Pzena Investment Management LLC lowered its stake in shares of Torchmark Corp. (NYSE:TMK) by 38.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 518,808 shares of the company’s stock after selling 330,683 shares during the period. Pzena Investment Management LLC owned about 0.43% of Torchmark Corp. worth $33,147,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in shares of Torchmark Corp. during the second quarter valued at about $11,270,000. First Quadrant L P CA boosted its position 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 valued at $21,435,000 after buying an additional 95,350 shares during the last quarter. 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 valued at $157,000 after buying an additional 181 shares during the last quarter. James Investment Research Inc. boosted its position in shares of Torchmark Corp. by 3.4% in the second quarter. James Investment Research Inc. now owns 284,982 shares of the company’s stock valued at $17,617,000 after buying an additional 9,282 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Torchmark Corp. by 3.6% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 12,812 shares of the company’s stock valued at $792,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Shares of Torchmark Corp. (NYSE:TMK) traded down 1.94% during mid-day trading on Monday, hitting $69.72. The company’s stock had a trading volume of 264,752 shares. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 15.72 and a beta of 0.95. Torchmark Corp. has a 52-week low of $48.47 and a 52-week high of $71.49. The stock’s 50 day moving average price is $66.00 and its 200 day moving average price is $62.95.

Torchmark Corp. (NYSE:TMK) last released its quarterly earnings results on Tuesday, October 25th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.03. The firm had revenue of $990 million for the quarter, compared to the consensus estimate of $964.48 million. Torchmark Corp. had a return on equity of 11.77% and a net margin of 14.05%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. Equities analysts forecast that Torchmark Corp. will post $4.47 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Friday, January 6th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.79%. Torchmark Corp.’s dividend payout ratio (DPR) is currently 12.56%.

Several research analysts recently issued reports on the company. Bank of America Corp. cut Torchmark Corp. from a “neutral” rating to an “underperform” rating in a research report on Friday, November 18th. Wells Fargo & Co. reaffirmed an “underperform” rating on shares of Torchmark Corp. in a research report on Friday, September 23rd. Credit Suisse Group AG assumed coverage on Torchmark Corp. in a research report on Friday, October 7th. They set a “neutral” rating and a $68.00 target price on the stock. Zacks Investment Research cut Torchmark Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Finally, Royal Bank Of Canada lifted their target price on Torchmark Corp. from $53.00 to $55.00 and gave the company an “underperform” rating in a research report on Monday, August 1st. Five equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Torchmark Corp. has an average rating of “Hold” and a consensus target price of $59.90.

In related news, insider Roger C. Smith sold 22,500 shares of Torchmark Corp. stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $66.71, for a total transaction of $1,500,975.00. Following the transaction, the insider now directly owns 51,563 shares in the company, valued at $3,439,767.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vern D. Herbel sold 37,500 shares of Torchmark Corp. stock in a transaction on Friday, November 18th. The shares were sold at an average price of $69.89, for a total value of $2,620,875.00. Following the transaction, the executive vice president now owns 72,505 shares in the company, valued at $5,067,374.45. The disclosure for this sale can be found here. 3.96% of the stock is owned by insiders.

Torchmark Corp. Company Profile

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