Mercer Global Advisors Inc. ADV bought a new position in shares of Torchmark Co. (NYSE:TMK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,397 shares of the insurance provider’s stock, valued at approximately $402,000.
A number of other large investors have also recently added to or reduced their stakes in TMK. CSat Investment Advisory L.P. increased its stake in Torchmark by 60.2% in the 4th quarter. CSat Investment Advisory L.P. now owns 407 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 153 shares in the last quarter. Arbor Wealth Management LLC purchased a new position in Torchmark in the 4th quarter worth about $38,000. Captrust Financial Advisors purchased a new position in Torchmark in the 4th quarter worth about $45,000. Capital Financial Planning LLC purchased a new position in Torchmark in the 4th quarter worth about $56,000. Finally, Murphy Pohlad Asset Management LLC purchased a new position in Torchmark in the 4th quarter worth about $72,000. 76.71% of the stock is currently owned by hedge funds and other institutional investors.
TMK has been the topic of several research analyst reports. Zacks Investment Research cut Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. JPMorgan Chase & Co. raised Torchmark from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 2nd. Finally, ValuEngine raised Torchmark from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $82.75.
Torchmark (NYSE:TMK) last released its earnings results on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.05. Torchmark had a return on equity of 12.66% and a net margin of 16.32%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business posted $1.47 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts forecast that Torchmark Co. will post 6.6 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 0.78%. The ex-dividend date is Thursday, April 4th. This is a boost from Torchmark’s previous quarterly dividend of $0.16. Torchmark’s payout ratio is 11.26%.
In other news, CFO Frank M. Svoboda sold 15,000 shares of Torchmark stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $82.72, for a total transaction of $1,240,800.00. Following the completion of the sale, the chief financial officer now directly owns 121,533 shares in the company, valued at approximately $10,053,209.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary L. Coleman sold 12,000 shares of Torchmark stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $83.60, for a total value of $1,003,200.00. Following the sale, the chief executive officer now owns 661,547 shares of the company’s stock, valued at $55,305,329.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,010 shares of company stock worth $7,612,561. Company insiders own 3.64% of the company’s stock.
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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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