Mercer Global Advisors Inc. ADV Buys New Holdings in Torchmark Co. (TMK)

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.

NYSE:TMK opened at $88.74 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.06 and a current ratio of 0.06. Torchmark Co. has a fifty-two week low of $69.68 and a fifty-two week high of $91.28. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00.

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.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://www.baseballdailydigest.com/news/2019/04/21/mercer-global-advisors-inc-adv-buys-new-holdings-in-torchmark-co-tmk.html.

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.

Further Reading: What is the NASDAQ Stock Market?

Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

Receive News & Ratings for Torchmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark and related companies with MarketBeat.com's FREE daily email newsletter.