Pensionfund Sabic trimmed its holdings in Torchmark Co. (NYSE:TMK) by 21.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,200 shares of the insurance provider’s stock after selling 5,000 shares during the period. Pensionfund Sabic’s holdings in Torchmark were worth $1,491,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of TMK. CSat Investment Advisory L.P. raised its position in shares of Torchmark by 60.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 407 shares of the insurance provider’s stock valued at $30,000 after buying an additional 153 shares during the last quarter. Arbor Wealth Management LLC acquired a new stake in shares of Torchmark in the fourth quarter valued at about $38,000. Captrust Financial Advisors acquired a new stake in shares of Torchmark in the fourth quarter valued at about $45,000. Capital Financial Planning LLC acquired a new stake in Torchmark during the fourth quarter worth about $56,000. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in Torchmark during the fourth quarter worth about $72,000. Institutional investors and hedge funds own 76.71% of the company’s stock.
Torchmark stock traded down $0.46 during midday trading on Wednesday, hitting $86.35. 500,529 shares of the stock were exchanged, compared to its average volume of 524,463. 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 P/E ratio of 14.09, a PEG ratio of 1.76 and a beta of 1.00. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.25.
The business 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 0.80%. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from Torchmark’s previous quarterly dividend of $0.16. Torchmark’s dividend payout ratio (DPR) is 11.26%.
In other news, CEO Gary L. Coleman sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 661,547 shares of the company’s stock, valued at $55,305,329.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kenneth J. Matson sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $81.16, for a total transaction of $649,280.00. Following the completion of the transaction, the insider now directly owns 25,434 shares of the company’s stock, valued at approximately $2,064,223.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 166,785 shares of company stock valued at $14,109,803. 3.64% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on TMK shares. JPMorgan Chase & Co. upgraded shares of Torchmark from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 2nd. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “sell” rating in a research report on Wednesday, April 3rd. Finally, ValuEngine upgraded shares of Torchmark from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Torchmark presently has a consensus rating of “Hold” and a consensus price target of $86.00.
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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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