Texas Permanent School Fund reduced its holdings in shares of Torchmark Co. (NYSE:TMK) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,730 shares of the insurance provider’s stock after selling 910 shares during the quarter. Texas Permanent School Fund’s holdings in Torchmark were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Oakworth Capital Inc. lifted its holdings in shares of Torchmark by 7.1% during the fourth quarter. Oakworth Capital Inc. now owns 26,832 shares of the insurance provider’s stock valued at $2,000,000 after purchasing an additional 1,786 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. increased its position in Torchmark by 20.0% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 51,994 shares of the insurance provider’s stock worth $4,261,000 after buying an additional 8,650 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Torchmark by 33.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 90,296 shares of the insurance provider’s stock worth $6,730,000 after buying an additional 22,382 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Torchmark in the fourth quarter worth about $1,143,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Torchmark by 55.1% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,087 shares of the insurance provider’s stock worth $4,404,000 after buying an additional 21,000 shares in the last quarter. 76.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:TMK traded down $1.16 during trading on Thursday, hitting $87.29. 3,188 shares of the company’s stock were exchanged, compared to its average volume of 409,062. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. Torchmark Co. has a 52-week low of $69.68 and a 52-week high of $91.28. The stock has a market capitalization of $9.76 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.68 and a beta of 1.01.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, July 3rd. Torchmark’s dividend payout ratio is currently 11.26%.
In related news, insider Bill Leavell sold 38,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $87.38, for a total transaction of $3,320,440.00. Following the completion of the sale, the insider now owns 38,000 shares in the company, valued at $3,320,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Carol A. Mccoy sold 6,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $88.64, for a total value of $531,840.00. Following the sale, the vice president now owns 101,043 shares of the company’s stock, valued at approximately $8,956,451.52. The disclosure for this sale can be found here. Insiders have sold 284,038 shares of company stock valued at $24,463,754 in the last quarter. 3.64% of the stock is currently owned by company insiders.
Separately, Zacks Investment Research cut Torchmark from a “buy” rating to a “sell” rating in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Torchmark presently has an average rating of “Hold” and an average price target of $85.75.
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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