Today, Torchmark Corp. (TMK) Stake Decreased by Public Employees Retirement Association of Colorado

Today, Torchmark Corp. (TMK) Stake Decreased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in shares of Torchmark Corp. (NYSE:TMK) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 25,674 shares of the company’s stock after selling 780 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Torchmark Corp. were worth $1,640,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its position in Torchmark Corp. by 4.0% in the third quarter. Mutual of America Capital Management LLC now owns 13,434 shares of the company’s stock worth $858,000 after buying an additional 513 shares during the period. Nordea Investment Management AB raised its position in Torchmark Corp. by 36.1% in the third quarter. Nordea Investment Management AB now owns 41,643 shares of the company’s stock worth $2,661,000 after buying an additional 11,035 shares during the period. Quantbot Technologies LP bought a new stake in shares of Torchmark Corp. during the third quarter valued at about $669,000. Advisors Asset Management Inc. raised its stake in shares of Torchmark Corp. by 1,082.4% in the third quarter. Advisors Asset Management Inc. now owns 6,503 shares of the company’s stock valued at $415,000 after buying an additional 5,953 shares during the last quarter. Finally, Foster & Motley Inc. bought a new stake in shares of Torchmark Corp. during the third quarter valued at about $263,000. Institutional investors own 72.83% of the company’s stock.

Shares of Torchmark Corp. (NYSE:TMK) traded down 2.12% on Monday, hitting $69.59. 865,352 shares of the company traded hands. The firm’s 50 day moving average price is $66.15 and its 200-day moving average price is $63.09. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 15.69 and a beta of 0.95. Torchmark Corp. has a 1-year low of $48.47 and a 1-year high of $71.49.

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

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

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

In other Torchmark Corp. news, EVP Vern D. Herbel sold 37,500 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $69.89, for a total value of $2,620,875.00. Following the completion of the transaction, the executive vice president now directly owns 72,505 shares in the company, valued at approximately $5,067,374.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gary L. Coleman sold 22,850 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $63.23, for a total value of $1,444,805.50. Following the completion of the transaction, the chairman now owns 625,581 shares of the company’s stock, valued at $39,555,486.63. The disclosure for this sale can be found here. 3.96% of the stock is owned by company 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.

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