Commerzbank Aktiengesellschaft FI reduced its position in Torchmark Co. (NYSE:TMK) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,329 shares of the insurance provider’s stock after selling 179 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Torchmark were worth $770,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its holdings in Torchmark by 60.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 96,156 shares of the insurance provider’s stock worth $7,167,000 after buying an additional 36,218 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Torchmark by 10.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 55,546 shares of the insurance provider’s stock valued at $4,140,000 after purchasing an additional 5,107 shares in the last quarter. Bailard Inc. raised its stake in shares of Torchmark by 10.5% in the 4th quarter. Bailard Inc. now owns 2,901 shares of the insurance provider’s stock valued at $216,000 after purchasing an additional 275 shares in the last quarter. Anchor Capital Advisors LLC acquired a new stake in shares of Torchmark in the 4th quarter valued at about $20,178,000. Finally, M&T Bank Corp raised its stake in shares of Torchmark by 12.2% in the 4th quarter. M&T Bank Corp now owns 11,926 shares of the insurance provider’s stock valued at $889,000 after purchasing an additional 1,299 shares in the last quarter. 73.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Torchmark stock opened at $84.01 on Thursday. The stock has a market capitalization of $9.30 billion, a PE ratio of 13.70, a P/E/G ratio of 1.67 and a beta of 1.01. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.25. Torchmark Co. has a 1 year low of $69.68 and a 1 year high of $89.62.
Torchmark (NYSE:TMK) last announced its quarterly earnings data on Tuesday, February 5th. The insurance provider reported $1.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.56. Torchmark had a net margin of 16.32% and a return on equity of 12.54%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts forecast that Torchmark Co. will post 6.63 earnings per share for the current year.
In related news, Chairman Gary L. Coleman sold 13,000 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $83.10, for a total transaction of $1,080,300.00. Following the completion of the sale, the chairman now owns 662,547 shares of the company’s stock, valued at approximately $55,057,655.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.68% of the stock is owned by corporate insiders.
TMK has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Saturday, January 5th. ValuEngine upgraded shares of Torchmark from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. SunTrust Banks cut their target price on shares of Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. JPMorgan Chase & Co. upgraded shares of Torchmark from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 2nd. Finally, Morgan Stanley upped their target price on shares of Torchmark from $81.00 to $83.00 and gave the company an “underweight” rating in a research note on Tuesday, November 13th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $85.17.
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, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
Featured Story: What is a Candlestick Chart?
Want to see what other hedge funds are holding TMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Torchmark Co. (NYSE:TMK).
Receive News & Ratings for Torchmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark and related companies with MarketBeat.com's FREE daily email newsletter.