LPL Financial LLC Invests $279,000 in Torchmark Co. (TMK) Stock

LPL Financial LLC acquired a new position in shares of Torchmark Co. (NYSE:TMK) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,077 shares of the insurance provider’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in Torchmark in the fourth quarter valued at $149,000. Cerebellum GP LLC bought a new stake in Torchmark in the fourth quarter valued at $173,000. YCG LLC bought a new stake in Torchmark in the fourth quarter valued at $204,000. Capital Management Corp VA bought a new stake in Torchmark in the fourth quarter valued at $204,000. Finally, Lourd Capital LLC bought a new stake in Torchmark in the fourth quarter valued at $206,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.

A number of research firms have issued reports on TMK. ValuEngine upgraded Torchmark from a “hold” rating to a “buy” rating in a research note on Thursday, April 19th. 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 research note on Thursday, April 5th. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Bank of America assumed coverage on shares of Torchmark in a research note on Monday, March 26th. They set a “buy” rating and a $97.00 price objective on the stock. Finally, UBS assumed coverage on shares of Torchmark in a research note on Friday, March 2nd. They set a “sell” rating and a $83.00 price objective on the stock. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $84.56.

In related news, VP Michael Clay Majors sold 21,900 shares of Torchmark stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $87.70, for a total transaction of $1,920,630.00. Following the transaction, the vice president now directly owns 11,921 shares of the company’s stock, valued at $1,045,471.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Gary L. Coleman sold 19,000 shares of Torchmark stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $87.01, for a total value of $1,653,190.00. Following the transaction, the chairman now directly owns 659,547 shares in the company, valued at $57,387,184.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,275 shares of company stock worth $10,102,540. 3.68% of the stock is owned by corporate insiders.

Shares of NYSE TMK opened at $86.89 on Tuesday. Torchmark Co. has a fifty-two week low of $73.99 and a fifty-two week 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 0.18. The stock has a market cap of $9,945.66, a P/E ratio of 18.03, a P/E/G ratio of 1.37 and a beta of 0.95.

Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, April 18th. The insurance provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.02. Torchmark had a net margin of 35.56% and a return on equity of 11.05%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business earned $1.15 earnings per share. analysts predict that Torchmark Co. will post 6.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 3rd will be issued a dividend of $0.16 per share. This is a positive change from Torchmark’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Monday, April 2nd. Torchmark’s payout ratio is presently 13.28%.

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About Torchmark

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 (NYSE:TMK)

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