Elkhorn Investments LLC lessened its position in shares of Torchmark Co. (NYSE:TMK) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,187 shares of the insurance provider’s stock after selling 2,136 shares during the period. Torchmark makes up 1.1% of Elkhorn Investments LLC’s portfolio, making the stock its 26th biggest position. Elkhorn Investments LLC’s holdings in Torchmark were worth $1,359,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of TMK. Tiedemann Wealth Management LLC grew its position in Torchmark by 8.0% during the third quarter. Tiedemann Wealth Management LLC now owns 16,147 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 1,201 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Torchmark by 63.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock worth $144,000 after buying an additional 700 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Torchmark in the fourth quarter worth about $149,000. Invictus RG purchased a new stake in shares of Torchmark in the third quarter worth about $165,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Torchmark in the fourth quarter worth about $173,000. 74.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Torchmark Co. (TMK) traded down $0.31 during midday trading on Wednesday, hitting $86.07. The stock had a trading volume of 23,256 shares, compared to its average volume of 664,580. Torchmark Co. has a 52 week low of $73.99 and a 52 week high of $93.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market capitalization of $9,927.41, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 3rd will be paid a $0.16 dividend. This is a boost from Torchmark’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, April 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.74%. Torchmark’s payout ratio is 4.88%.
In related news, CFO Frank M. Svoboda sold 12,375 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $86.88, for a total value of $1,075,140.00. Following the transaction, the chief financial officer now owns 105,828 shares in the company, valued at $9,194,336.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Roger C. Smith sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $90.64, for a total value of $2,719,200.00. Following the completion of the transaction, the insider now owns 65,685 shares in the company, valued at approximately $5,953,688.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,525 shares of company stock worth $12,841,853. Insiders own 3.79% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Thursday, January 11th. ValuEngine raised Torchmark from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Co set a $78.00 target price on Torchmark and gave the stock a “sell” rating in a research report on Wednesday, February 7th. Finally, UBS Group assumed coverage on Torchmark in a research report on Friday, March 2nd. They issued a “sell” rating and a $83.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Torchmark presently has an average rating of “Hold” and an average target price of $83.14.
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Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.
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