California State Teachers Retirement System Has $15.96 Million Stake in Torchmark Co. (TMK)


California State Teachers Retirement System reduced its position in Torchmark Co. (NYSE:TMK) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,571 shares of the insurance provider’s stock after selling 8,560 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Torchmark worth $15,956,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in shares of Torchmark in the 1st quarter valued at $565,000. Natixis boosted its stake in Torchmark by 4.8% during the first quarter. Natixis now owns 20,643 shares of the insurance provider’s stock worth $1,734,000 after acquiring an additional 951 shares in the last quarter. Barclays PLC boosted its stake in Torchmark by 61.1% during the first quarter. Barclays PLC now owns 252,679 shares of the insurance provider’s stock worth $21,267,000 after acquiring an additional 95,809 shares in the last quarter. Ostrum Asset Management bought a new position in Torchmark during the first quarter worth $324,000. Finally, CAMG Solamere Management LLC boosted its stake in Torchmark by 644.1% during the first quarter. CAMG Solamere Management LLC now owns 74,722 shares of the insurance provider’s stock worth $764,000 after acquiring an additional 64,680 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.


Get Torchmark alerts:

In other Torchmark news, Chairman Gary L. Coleman sold 25,000 shares of the firm’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $85.66, for a total value of $2,141,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Henry Rogers, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $86.62, for a total transaction of $86,620.00. Following the completion of the transaction, the insider now directly owns 1,000 shares in the company, valued at $86,620. The disclosure for this sale can be found here. Insiders sold 109,375 shares of company stock worth $9,425,654 over the last ninety days. Insiders own 3.68% of the company’s stock.


Several research analysts recently issued reports on TMK shares. ValuEngine raised shares of Torchmark from a “hold” rating to a “buy” rating in a research note on Thursday, April 19th. Bank of America started coverage on shares of Torchmark in a research note on Monday, March 26th. They set a “buy” rating and a $97.00 target price on the stock. Zacks Investment Research lowered shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. UBS Group started coverage on shares of Torchmark in a research note on Friday, March 2nd. They set a “sell” rating and a $83.00 target price on the stock. Finally, Morgan Stanley cut their target price 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. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.56.


Torchmark stock opened at $83.68 on Friday. Torchmark Co. has a 1-year low of $74.48 and a 1-year high of $93.60. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.06 and a current ratio of 0.06.

Torchmark (NYSE:TMK) last released 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 10.88%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm earned $1.15 earnings per share. equities research analysts predict that Torchmark Co. will post 6.03 EPS for the current year.


The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Thursday, July 5th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, July 3rd. Torchmark’s dividend payout ratio (DPR) is 13.28%.

Torchmark Profile

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.

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).

Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

Leave a Reply

Your email address will not be published.