Korea Investment CORP grew its position in Torchmark Co. (NYSE:TMK) by 43.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,935 shares of the insurance provider’s stock after purchasing an additional 17,900 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Torchmark worth $4,392,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. ETF Managers Group LLC raised its position in shares of Torchmark by 15.7% in the fourth quarter. ETF Managers Group LLC now owns 1,547 shares of the insurance provider’s stock valued at $115,000 after purchasing an additional 210 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in shares of Torchmark by 2.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 9,375 shares of the insurance provider’s stock valued at $699,000 after purchasing an additional 217 shares during the period. Bailard Inc. raised its position in shares of Torchmark by 10.5% in the fourth quarter. Bailard Inc. now owns 2,901 shares of the insurance provider’s stock valued at $216,000 after purchasing an additional 275 shares during the period. Daiwa SB Investments Ltd. raised its position in shares of Torchmark by 12.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 2,800 shares of the insurance provider’s stock valued at $209,000 after purchasing an additional 300 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Torchmark by 0.3% in the fourth quarter. Prudential Financial Inc. now owns 118,466 shares of the insurance provider’s stock valued at $8,829,000 after purchasing an additional 314 shares during the period. 74.66% of the stock is currently owned by institutional investors.
In other Torchmark news, CEO Gary L. Coleman sold 12,000 shares of Torchmark stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $83.60, for a total transaction of $1,003,200.00. Following the sale, the chief executive officer now owns 661,547 shares in the company, valued at $55,305,329.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Frank M. Svoboda sold 15,000 shares of Torchmark stock in a transaction on Monday, March 4th. The stock was sold at an average price of $82.72, for a total transaction of $1,240,800.00. Following the sale, the chief financial officer now owns 121,533 shares in the company, valued at approximately $10,053,209.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,000 shares of company stock worth $4,304,340. 3.68% of the stock is currently owned by corporate insiders.
Torchmark (NYSE:TMK) last announced its quarterly earnings data on Tuesday, February 5th. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.56. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. Torchmark had a net margin of 16.32% and a return on equity of 12.66%. Torchmark’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. On average, sell-side analysts anticipate that Torchmark Co. will post 6.61 earnings per share for the current year.
A number of research firms have recently commented on TMK. Zacks Investment Research lowered shares of Torchmark from a “buy” rating to a “hold” rating in a research report on Monday, December 31st. ValuEngine lowered shares of Torchmark from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. Finally, JPMorgan Chase & Co. raised shares of Torchmark from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Torchmark has an average rating of “Hold” and an average target price of $85.60.
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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, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.
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