Wetherby Asset Management Inc. cut its position in shares of Torchmark Corporation (NYSE:TMK) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,319 shares of the company’s stock after selling 92 shares during the period. Wetherby Asset Management Inc.’s holdings in Torchmark Corporation were worth $319,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Balentine LLC raised its position in Torchmark Corporation by 5.7% in the second quarter. Balentine LLC now owns 1,855 shares of the company’s stock worth $115,000 after buying an additional 100 shares during the last quarter. SRB Corp raised its position in Torchmark Corporation by 3.6% in the third quarter. SRB Corp now owns 2,470 shares of the company’s stock worth $158,000 after buying an additional 86 shares during the last quarter. Advisor Group Inc. raised its position in Torchmark Corporation by 4.9% in the third quarter. Advisor Group Inc. now owns 2,594 shares of the company’s stock worth $166,000 after buying an additional 120 shares during the last quarter. State of Alaska Department of Revenue raised its position in Torchmark Corporation by 6.7% in the third quarter. State of Alaska Department of Revenue now owns 2,712 shares of the company’s stock worth $173,000 after buying an additional 170 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its position in Torchmark Corporation by 199.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,840 shares of the company’s stock worth $181,000 after buying an additional 1,893 shares during the last quarter. 73.68% of the stock is currently owned by institutional investors and hedge funds.
Torchmark Corporation (NYSE:TMK) traded down 0.07% during mid-day trading on Tuesday, reaching $75.81. The company’s stock had a trading volume of 85,539 shares. The company has a market capitalization of $9.00 billion, a PE ratio of 16.88 and a beta of 0.99. Torchmark Corporation has a 1-year low of $48.70 and a 1-year high of $76.11. The firm has a 50 day moving average price of $74.09 and a 200-day moving average price of $68.02.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. Torchmark Corporation had a return on equity of 11.52% and a net margin of 13.95%. The company earned $975 million during the quarter, compared to analysts’ expectations of $989.40 million. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts predict that Torchmark Corporation will post $4.69 EPS for the current fiscal year.
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A number of research firms have recently issued reports on TMK. Zacks Investment Research lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Barclays PLC reissued a “sell” rating and issued a $65.00 target price on shares of Torchmark Corporation in a report on Monday, January 9th. Deutsche Bank AG boosted their target price on Torchmark Corporation from $60.00 to $69.00 and gave the company a “hold” rating in a report on Monday, January 23rd. Evercore ISI lowered Torchmark Corporation from a “hold” rating to a “sell” rating and set a $70.00 price objective on the stock. in a report on Wednesday, January 11th. Finally, Bank of America Corporation lowered Torchmark Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, November 18th. Seven equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has a consensus rating of “Sell” and a consensus price target of $64.89.
In other news, VP Ben Lutek sold 32,500 shares of Torchmark Corporation stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $74.44, for a total value of $2,419,300.00. Following the transaction, the vice president now directly owns 33,600 shares in the company, valued at $2,501,184. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vern D. Herbel sold 37,500 shares of Torchmark Corporation stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $69.89, for a total value of $2,620,875.00. Following the completion of the transaction, the executive vice president now owns 72,505 shares in the company, valued at $5,067,374.45. The disclosure for this sale can be found here. Insiders sold 133,322 shares of company stock valued at $9,580,869 in the last ninety days. Insiders own 3.96% of the company’s stock.
About Torchmark Corporation
Torchmark Corporation is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance.
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