Allianz Asset Management GmbH lifted its position in Torchmark Co. (NYSE:TMK) by 38.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,997 shares of the insurance provider’s stock after buying an additional 59,339 shares during the period. Allianz Asset Management GmbH owned approximately 0.19% of Torchmark worth $18,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its position in Torchmark by 28.5% during the second quarter. Riverhead Capital Management LLC now owns 31,038 shares of the insurance provider’s stock valued at $2,527,000 after purchasing an additional 6,877 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Torchmark by 69.6% during the second quarter. Cubist Systematic Strategies LLC now owns 28,011 shares of the insurance provider’s stock valued at $2,280,000 after purchasing an additional 11,495 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Torchmark by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 1,498,890 shares of the insurance provider’s stock valued at $122,025,000 after purchasing an additional 203,149 shares in the last quarter. Gofen & Glossberg LLC IL purchased a new position in Torchmark during the third quarter valued at $207,000. Finally, Flinton Capital Management LLC lifted its position in Torchmark by 27.5% during the second quarter. Flinton Capital Management LLC now owns 19,648 shares of the insurance provider’s stock valued at $1,600,000 after purchasing an additional 4,240 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.
In other news, CFO Frank M. Svoboda sold 12,375 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $87.70, for a total value of $1,085,287.50. Following the transaction, the chief financial officer now directly owns 105,828 shares in the company, valued at $9,281,115.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Henry Rogers, Jr. sold 1,875 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $88.16, for a total value of $165,300.00. Following the completion of the transaction, the insider now owns 1,875 shares in the company, valued at $165,300. The disclosure for this sale can be found here. Insiders sold 14,461 shares of company stock worth $1,268,301 over the last 90 days. Company insiders own 3.68% of the company’s stock.
Several equities analysts recently weighed in on the company. SunTrust Banks lowered their target price on Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Goldman Sachs Group downgraded Torchmark from a “neutral” rating to a “sell” rating and lowered their target price for the company from $92.00 to $78.00 in a research report on Monday, September 10th. Morgan Stanley lifted their target price on Torchmark from $81.00 to $83.00 and gave the company an “underweight” rating in a research report on Tuesday, November 13th. Finally, Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Thursday, October 4th. Four 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 company. The company currently has a consensus rating of “Hold” and a consensus target price of $85.86.
NYSE TMK opened at $80.25 on Friday. The firm has a market cap of $9.17 billion, a P/E ratio of 16.65, a P/E/G ratio of 0.98 and a beta of 0.86. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.25. Torchmark Co. has a fifty-two week low of $79.37 and a fifty-two week high of $93.60.
Torchmark (NYSE:TMK) last announced its quarterly earnings data on Wednesday, October 24th. The insurance provider reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.06. Torchmark had a return on equity of 11.70% and a net margin of 36.42%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. On average, equities research analysts anticipate that Torchmark Co. will post 6.13 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Friday, January 4th will be given a $0.16 dividend. The ex-dividend date is Thursday, January 3rd. This represents a $0.64 annualized dividend and a dividend yield of 0.80%. Torchmark’s payout ratio is 13.28%.
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, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
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