Janus Capital Management LLC increased its position in shares of Torchmark Corporation (NYSE:TMK) by 205.9% during the first quarter, Holdings Channel reports. The fund owned 1,139,756 shares of the insurance provider’s stock after buying an additional 767,124 shares during the period. Janus Capital Management LLC’s holdings in Torchmark Corporation were worth $87,806,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Torchmark Corporation by 2,764.7% in the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock worth $576,118,000 after buying an additional 7,217,094 shares during the last quarter. Vanguard Group Inc. increased its stake in Torchmark Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock worth $918,194,000 after buying an additional 458,913 shares during the last quarter. State Street Corp increased its stake in Torchmark Corporation by 2.6% in the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock worth $450,848,000 after buying an additional 150,546 shares during the last quarter. AQR Capital Management LLC increased its stake in Torchmark Corporation by 22.2% in the fourth quarter. AQR Capital Management LLC now owns 735,100 shares of the insurance provider’s stock worth $54,221,000 after buying an additional 133,320 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Torchmark Corporation by 270.6% in the first quarter. Canada Pension Plan Investment Board now owns 173,661 shares of the insurance provider’s stock worth $13,379,000 after buying an additional 126,800 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.
Torchmark Corporation (TMK) traded down 0.09% during midday trading on Monday, reaching $75.61. The company had a trading volume of 55,225 shares. Torchmark Corporation has a one year low of $57.49 and a one year high of $79.53. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 16.43 and a beta of 1.00. The company has a 50-day moving average price of $75.94 and a 200-day moving average price of $75.67.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings results on Wednesday, April 19th. The insurance provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. Torchmark Corporation had a return on equity of 11.56% and a net margin of 14.04%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business earned $1.10 EPS. Torchmark Corporation’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Torchmark Corporation will post $4.70 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. Torchmark Corporation’s dividend payout ratio is presently 13.02%.
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Several analysts recently weighed in on TMK shares. Zacks Investment Research upgraded Torchmark Corporation from a “sell” rating to a “hold” rating in a research report on Friday, March 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $75.00 price objective on shares of Torchmark Corporation in a research report on Friday, May 26th. Finally, ValuEngine cut Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $67.67.
In other Torchmark Corporation news, Chairman Gary L. Coleman sold 37,500 shares of the company’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $75.93, for a total transaction of $2,847,375.00. Following the transaction, the chairman now owns 666,875 shares in the company, valued at approximately $50,635,818.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven John Dichiaro sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $75.08, for a total value of $337,860.00. Following the transaction, the insider now owns 12,860 shares in the company, valued at approximately $965,528.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,750 shares of company stock worth $5,555,033. 3.79% of the stock is owned by company insiders.
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.
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