JPMorgan Chase & Co. Boosts Position in Torchmark Co. (TMK)

JPMorgan Chase & Co. boosted its holdings in Torchmark Co. (NYSE:TMK) by 12.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 326,857 shares of the insurance provider’s stock after acquiring an additional 35,345 shares during the quarter. JPMorgan Chase & Co.’s holdings in Torchmark were worth $27,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TMK. Fuller & Thaler Asset Management Inc. boosted its holdings in Torchmark by 33.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,400 shares of the insurance provider’s stock worth $218,000 after acquiring an additional 600 shares during the last quarter. Comerica Bank boosted its holdings in Torchmark by 1.2% during the 1st quarter. Comerica Bank now owns 50,345 shares of the insurance provider’s stock worth $4,391,000 after acquiring an additional 613 shares during the last quarter. M&T Bank Corp boosted its holdings in Torchmark by 5.3% during the 1st quarter. M&T Bank Corp now owns 12,198 shares of the insurance provider’s stock worth $1,027,000 after acquiring an additional 619 shares during the last quarter. ING Groep NV boosted its holdings in Torchmark by 6.2% during the 1st quarter. ING Groep NV now owns 10,841 shares of the insurance provider’s stock worth $912,000 after acquiring an additional 632 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Torchmark by 3.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 22,579 shares of the insurance provider’s stock worth $2,048,000 after acquiring an additional 735 shares during the last quarter. 73.47% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman Gary L. Coleman sold 25,000 shares of the business’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $85.66, for a total value of $2,141,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Larry M. Hutchison sold 13,000 shares of the business’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $85.78, for a total value of $1,115,140.00. Following the completion of the sale, the chief executive officer now owns 553,603 shares in the company, valued at $47,488,065.34. The disclosure for this sale can be found here. Insiders have sold a total of 109,375 shares of company stock worth $9,425,654 over the last quarter. Company insiders own 3.68% of the company’s stock.

A number of equities analysts have issued reports on the stock. ValuEngine downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Morgan Stanley cut their price objective on shares of Torchmark from $84.00 to $82.00 and set an “underweight” rating on the stock in a report on Thursday, April 5th. Bank of America initiated coverage on shares of Torchmark in a report on Monday, March 26th. They set a “buy” rating and a $97.00 price objective on the stock. Zacks Investment Research cut Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Finally, UBS Group initiated coverage on Torchmark in a research note on Friday, March 2nd. They set a “sell” rating and a $83.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $84.56.

Torchmark opened at $84.62 on Wednesday, according to Marketbeat.com. The firm has a market cap of $9.79 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.37 and a beta of 0.92. Torchmark Co. has a one year low of $74.48 and a one 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 0.19.

Torchmark (NYSE:TMK) last released its earnings results on Wednesday, April 18th. The insurance provider reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.02. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Torchmark had a return on equity of 10.88% and a net margin of 35.56%. During the same period in the previous year, the business posted $1.15 EPS. sell-side analysts forecast that Torchmark Co. will post 6.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Thursday, July 5th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, July 3rd. Torchmark’s payout ratio is 13.28%.

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

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