Sumitomo Life Insurance Co. Has $1.40 Million Position in Torchmark Corporation (NYSE:TMK)

Sumitomo Life Insurance Co. boosted its position in Torchmark Corporation (NYSE:TMK) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,331 shares of the insurance provider’s stock after buying an additional 773 shares during the period. Sumitomo Life Insurance Co.’s holdings in Torchmark Corporation were worth $1,402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its position in Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock worth $187,000 after buying an additional 69 shares during the last quarter. Global X Management Co. LLC increased its position in Torchmark Corporation by 539.3% in the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock worth $193,000 after buying an additional 2,114 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Torchmark Corporation during the first quarter worth $205,000. Aull & Monroe Investment Management Corp bought a new position in Torchmark Corporation during the first quarter worth $206,000. Finally, Dai Ichi Life Insurance Company Ltd bought a new position in Torchmark Corporation during the first quarter worth $206,000. Institutional investors and hedge funds own 74.84% of the company’s stock.

Torchmark Corporation (NYSE TMK) opened at 76.61 on Friday. Torchmark Corporation has a one year low of $62.41 and a one year high of $79.90. The firm has a market capitalization of $8.91 billion, a PE ratio of 16.48 and a beta of 0.98. The firm has a 50-day moving average price of $78.21 and a 200 day moving average price of $76.81.

Torchmark Corporation (NYSE:TMK) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. Analysts anticipate that Torchmark Corporation will post $4.75 EPS for the current fiscal year.

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A number of research analysts have weighed in on the company. ValuEngine downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub cut Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research cut Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Torchmark Corporation has an average rating of “Hold” and a consensus price target of $73.33.

In other Torchmark Corporation news, Director Lloyd W. Newton bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average cost of $75.28 per share, for a total transaction of $188,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Arvelia Bowie sold 16,875 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $78.45, for a total transaction of $1,323,843.75. Following the sale, the vice president now owns 17,941 shares in the company, valued at $1,407,471.45. The disclosure for this sale can be found here. Insiders have sold a total of 142,321 shares of company stock worth $11,175,453 over the last 90 days. Corporate insiders own 3.79% of the company’s stock.

About Torchmark Corporation

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.

Institutional Ownership by Quarter for Torchmark Corporation (NYSE:TMK)

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