The Horizon Investments LLC Takes Position in Torchmark Corporation (TMK), Report finds

The Horizon Investments LLC Takes Position in Torchmark Corporation (TMK), Report finds

Several other institutional investors have also made changes to their positions in the company. Balentine LLC boosted its position in shares of Torchmark Corporation by 5.7% in the second quarter. Balentine LLC now owns 1,855 shares of the company’s stock valued at $115,000 after buying an additional 100 shares in the last quarter. SRB Corp boosted its position in shares of Torchmark Corporation by 3.6% in the third quarter. SRB Corp now owns 2,470 shares of the company’s stock valued at $158,000 after buying an additional 86 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Torchmark Corporation by 4.9% in the third quarter. Advisor Group Inc. now owns 2,594 shares of the company’s stock valued at $166,000 after buying an additional 120 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of 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 valued at $173,000 after buying an additional 170 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of 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 valued at $181,000 after buying an additional 1,893 shares in the last quarter. 72.89% of the stock is currently owned by institutional investors.

Horizon Investments LLC acquired a new stake in Torchmark Corporation (NYSE:TMK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,606 shares of the company’s stock, valued at approximately $635,000.

Torchmark Corporation (NYSE:TMK) traded up 0.84% during mid-day trading on Thursday, hitting $74.45. 565,738 shares of the company traded hands. The company’s 50-day moving average price is $74.05 and its 200 day moving average price is $67.69. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 16.57 and a beta of 0.99. Torchmark Corporation has a one year low of $48.47 and a one year high of $75.24.

Torchmark Corporation (NYSE:TMK) last released its earnings results on Wednesday, February 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. Torchmark Corporation had a net margin of 13.95% and a return on equity of 11.52%. The company had revenue of $975 million for the quarter, compared to the consensus estimate of $989.40 million. During the same period in the prior year, the company posted $1.05 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Torchmark Corporation will post $4.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Friday, January 6th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, January 4th. This represents a $0.56 dividend on an annualized basis and a yield of 0.75%. Torchmark Corporation’s payout ratio is presently 12.42%.

Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Barclays PLC reissued a “sell” rating and issued a $65.00 target price on shares of Torchmark Corporation in a research report on Monday, January 9th. Deutsche Bank AG lifted their target price on shares of Torchmark Corporation from $60.00 to $69.00 and gave the stock a “hold” rating in a research report on Monday, January 23rd. Evercore ISI downgraded shares of Torchmark Corporation from a “hold” rating to a “sell” rating and set a $70.00 target price on the stock. in a research report on Wednesday, January 11th. Finally, Bank of America Corporation downgraded shares of Torchmark Corporation from a “neutral” rating to an “underperform” rating in a research report on Friday, November 18th. Seven investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The stock has a consensus rating of “Sell” and a consensus price target of $64.89.

In other Torchmark Corporation news, VP Ben Lutek sold 32,500 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $74.44, for a total transaction of $2,419,300.00. Following the transaction, the vice president now directly owns 33,600 shares in the company, valued at approximately $2,501,184. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles E. Adair sold 1,938 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $74.57, for a total transaction of $144,516.66. Following the transaction, the director now owns 11,369 shares in the company, valued at $847,786.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,772 shares of company stock worth $10,318,202. Corporate insiders own 3.96% of the company’s stock.

Torchmark Corporation Company Profile

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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