Putnam FL Investment Management Co. Acquires Shares of 2,250 Torchmark Co. (NYSE:TMK)

Putnam FL Investment Management Co. acquired a new stake in Torchmark Co. (NYSE:TMK) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,250 shares of the insurance provider’s stock, valued at approximately $201,000.

A number of other large investors have also made changes to their positions in TMK. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Torchmark by 0.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,967,608 shares of the insurance provider’s stock valued at $161,245,000 after buying an additional 6,700 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Torchmark by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 1,457,051 shares of the insurance provider’s stock valued at $108,420,000 after buying an additional 89,972 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Torchmark by 22.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,409,739 shares of the insurance provider’s stock valued at $115,529,000 after buying an additional 262,077 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Torchmark by 25.2% during the 1st quarter. California Public Employees Retirement System now owns 754,032 shares of the insurance provider’s stock valued at $61,793,000 after buying an additional 151,530 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Torchmark by 1,351.9% during the 1st quarter. Nordea Investment Management AB now owns 396,865 shares of the insurance provider’s stock valued at $32,524,000 after buying an additional 369,531 shares during the last quarter. Hedge funds and other institutional investors own 75.76% of the company’s stock.

A number of research analysts have recently commented on TMK shares. Morgan Stanley upped their price target on Torchmark from $84.00 to $86.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Torchmark currently has an average rating of “Hold” and an average target price of $86.50.

Shares of NYSE TMK traded down $1.50 during trading on Wednesday, reaching $84.88. 10,610 shares of the stock traded hands, compared to its average volume of 485,628. Torchmark Co. has a 52-week low of $69.68 and a 52-week high of $93.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a 50-day moving average of $90.31. The stock has a market cap of $9.64 billion, a PE ratio of 13.88, a P/E/G ratio of 1.71 and a beta of 0.95.

Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.02. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Torchmark had a return on equity of 12.90% and a net margin of 16.26%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 EPS. Equities analysts anticipate that Torchmark Co. will post 6.73 earnings per share for the current year.

In related news, insider John Henry Rogers, Jr. sold 1,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $89.33, for a total transaction of $89,330.00. Following the sale, the insider now owns 1,000 shares of the company’s stock, valued at approximately $89,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Frank M. Svoboda sold 11,250 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $91.85, for a total value of $1,033,312.50. Following the sale, the chief financial officer now directly owns 117,783 shares in the company, valued at approximately $10,818,368.55. The disclosure for this sale can be found here. Insiders have sold a total of 207,542 shares of company stock worth $18,727,328 in the last three months. 3.64% of the stock is currently owned by insiders.

About Torchmark

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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Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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