Stephens Inc. AR Grows Stake in Torchmark Co. (TMK)

Stephens Inc. AR Grows Stake in Torchmark Co. (TMK)

Stephens Inc. AR grew its position in Torchmark Co. (NYSE:TMK) by 7.9% during the 1st quarter, HoldingsChannel reports. The fund owned 26,375 shares of the insurance provider’s stock after buying an additional 1,933 shares during the quarter. Stephens Inc. AR’s holdings in Torchmark were worth $2,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMK. Legal & General Group Plc increased its stake in shares of Torchmark by 15.5% in the third quarter. Legal & General Group Plc now owns 752,839 shares of the insurance provider’s stock valued at $65,251,000 after purchasing an additional 100,946 shares during the period. Vanguard Group Inc increased its stake in shares of Torchmark by 1.7% in the third quarter. Vanguard Group Inc now owns 12,664,337 shares of the insurance provider’s stock valued at $1,097,870,000 after purchasing an additional 210,422 shares during the period. First Hawaiian Bank increased its stake in shares of Torchmark by 2,481.0% in the fourth quarter. First Hawaiian Bank now owns 4,491 shares of the insurance provider’s stock valued at $334,000 after purchasing an additional 4,317 shares during the period. CX Institutional acquired a new stake in shares of Torchmark in the fourth quarter valued at approximately $122,000. Finally, Denali Advisors LLC acquired a new stake in shares of Torchmark in the fourth quarter valued at approximately $1,282,000. Institutional investors and hedge funds own 76.56% of the company’s stock.

NYSE TMK opened at $87.31 on Thursday. Torchmark Co. has a 12 month low of $69.68 and a 12 month high of $91.28. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. The company has a market cap of $9.49 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.63 and a beta of 1.01.

Torchmark (NYSE:TMK) last posted its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $1.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.05. Torchmark had a net margin of 16.37% and a return on equity of 12.75%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $1.47 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts predict that Torchmark Co. will post 6.69 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.1725 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.79%. Torchmark’s dividend payout ratio is presently 11.26%.

Separately, Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $86.00.

In other Torchmark news, Chairman Gary L. Coleman sold 13,000 shares of Torchmark stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $83.10, for a total value of $1,080,300.00. Following the transaction, the chairman now owns 662,547 shares in the company, valued at $55,057,655.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Larry M. Hutchison sold 12,000 shares of Torchmark stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $87.43, for a total transaction of $1,049,160.00. Following the completion of the transaction, the chief executive officer now owns 609,510 shares in the company, valued at approximately $53,289,459.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,132 shares of company stock worth $23,994,273. 3.64% of the stock is currently owned by company insiders.

Torchmark Profile

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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