Canada Pension Plan Investment Board increased its stake in Torchmark Corporation (NYSE:TMK) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 176,061 shares of the insurance provider’s stock after buying an additional 2,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.15% of Torchmark Corporation worth $13,469,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. ProShare Advisors LLC increased its stake in shares of Torchmark Corporation by 3.4% in the first quarter. ProShare Advisors LLC now owns 50,001 shares of the insurance provider’s stock valued at $3,852,000 after buying an additional 1,637 shares during the period. Korea Investment CORP increased its stake in shares of Torchmark Corporation by 39.2% in the first quarter. Korea Investment CORP now owns 49,400 shares of the insurance provider’s stock valued at $3,806,000 after buying an additional 13,900 shares during the period. Foster & Motley Inc. increased its stake in shares of Torchmark Corporation by 55.9% in the first quarter. Foster & Motley Inc. now owns 6,824 shares of the insurance provider’s stock valued at $526,000 after buying an additional 2,446 shares during the period. Aull & Monroe Investment Management Corp bought a new stake in shares of Torchmark Corporation during the first quarter valued at $206,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Torchmark Corporation by 3.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,006 shares of the insurance provider’s stock valued at $217,000 after buying an additional 96 shares during the period. Institutional investors own 74.84% of the company’s stock.
Torchmark Corporation (NYSE TMK) opened at 78.75 on Thursday. The stock has a market cap of $9.16 billion, a P/E ratio of 16.94 and a beta of 0.98. The stock has a 50 day moving average price of $78.20 and a 200-day moving average price of $76.79. Torchmark Corporation has a 12-month low of $61.96 and a 12-month high of $79.90.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. Torchmark Corporation’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 earnings per share. On average, equities analysts expect that Torchmark Corporation will post $4.75 earnings per share for the current year.
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Several equities research analysts have weighed in on the company. BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $78.00 price target on shares of Torchmark Corporation in a report on Thursday, August 3rd. Zacks Investment Research upgraded Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 price target on the stock in a report on Friday, July 28th. Finally, Barclays PLC upped their price target on Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a report on Friday, August 11th. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $73.33.
In related news, Chairman Gary L. Coleman sold 37,500 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $78.57, for a total value of $2,946,375.00. Following the completion of the sale, the chairman now directly owns 666,875 shares of the company’s stock, valued at $52,396,368.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert W. Ingram sold 1,827 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $78.66, for a total value of $143,711.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,321 shares of company stock valued at $11,175,453. 3.79% of the stock is owned by corporate insiders.
Torchmark Corporation 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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