Teacher Retirement System of Texas increased its stake in Torchmark Co. (NYSE:TMK) by 40.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335,487 shares of the insurance provider’s stock after buying an additional 96,520 shares during the period. Teacher Retirement System of Texas owned 0.30% of Torchmark worth $25,004,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. raised its stake in Torchmark by 60.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 407 shares of the insurance provider’s stock worth $30,000 after buying an additional 153 shares in the last quarter. Captrust Financial Advisors bought a new position in Torchmark in the fourth quarter worth about $45,000. Capital Financial Planning LLC bought a new position in Torchmark in the fourth quarter worth about $56,000. Murphy Pohlad Asset Management LLC bought a new position in Torchmark in the fourth quarter worth about $72,000. Finally, Enlightenment Research LLC bought a new position in Torchmark in the fourth quarter worth about $82,000. 76.71% of the stock is owned by institutional investors.
In related news, insider Michael Shane Henrie sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $82.90, for a total transaction of $207,250.00. Following the completion of the sale, the insider now owns 2,500 shares of the company’s stock, valued at $207,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Frank M. Svoboda sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $82.72, for a total transaction of $1,240,800.00. Following the sale, the chief financial officer now directly owns 121,533 shares of the company’s stock, valued at approximately $10,053,209.76. The disclosure for this sale can be found here. Insiders have sold 92,010 shares of company stock valued at $7,612,561 in the last three months. 3.64% of the stock is owned by insiders.
Torchmark (NYSE:TMK) last announced its earnings results on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.05. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Torchmark had a net margin of 16.37% and a return on equity of 13.06%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.47 earnings per share. On average, analysts forecast that Torchmark Co. will post 6.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.69 annualized dividend and a dividend yield of 0.78%. This is an increase from Torchmark’s previous quarterly dividend of $0.16. Torchmark’s dividend payout ratio (DPR) is 11.26%.
A number of brokerages have weighed in on TMK. Zacks Investment Research raised shares of Torchmark from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. ValuEngine raised shares of Torchmark from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of Torchmark from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $82.75.
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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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