Quantitative Investment Management LLC grew its holdings in Torchmark Co. (NYSE:TMK) by 178.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 60,400 shares of the insurance provider’s stock after buying an additional 38,700 shares during the period. Quantitative Investment Management LLC owned 0.05% of Torchmark worth $5,478,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Torchmark in the fourth quarter valued at about $149,000. Fuller & Thaler Asset Management Inc. raised its holdings 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 valued at $144,000 after buying an additional 700 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of Torchmark in the fourth quarter valued at about $173,000. Invictus RG purchased a new stake in shares of Torchmark in the third quarter valued at about $165,000. Finally, YCG LLC purchased a new stake in shares of Torchmark in the fourth quarter valued at about $204,000. 74.74% of the stock is owned by institutional investors and hedge funds.
Torchmark Co. (TMK) opened at $86.38 on Wednesday. The stock has a market cap of $9,850.00, a PE ratio of 4.37, a P/E/G ratio of 2.02 and a beta of 0.97. Torchmark Co. has a 1-year low of $73.99 and a 1-year high of $93.60. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 3rd will be given a dividend of $0.16 per share. This is a positive change from Torchmark’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.74%. The ex-dividend date is Monday, April 2nd. Torchmark’s dividend payout ratio is presently 3.04%.
In other Torchmark news, Chairman Gary L. Coleman sold 24,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $86.25, for a total transaction of $2,070,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Frank M. Svoboda sold 12,375 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $86.88, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 144,525 shares of company stock worth $12,841,853 over the last 90 days. 3.79% of the stock is currently owned by company insiders.
TMK has been the subject of several analyst reports. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. ValuEngine raised shares of Torchmark from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. UBS Group initiated coverage on shares of Torchmark in a report on Friday, March 2nd. They set a “sell” rating and a $83.00 price target for the company. Finally, Wells Fargo & Co set a $78.00 price target on shares of Torchmark and gave the stock a “sell” rating in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $83.14.
Torchmark Company Profile
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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