Rhumbline Advisers reduced its stake in Torchmark Co. (NYSE:TMK) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,237 shares of the company’s stock after selling 18,682 shares during the period. Rhumbline Advisers’ holdings in Torchmark were worth $11,388,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. National Penn Investors Trust Co. PA increased its stake in shares of Torchmark by 0.3% in the fourth quarter. National Penn Investors Trust Co. PA now owns 164,986 shares of the company’s stock valued at $9,430,000 after buying an additional 568 shares during the period. Swiss National Bank increased its position in shares of Torchmark by 0.8% in the fourth quarter. Swiss National Bank now owns 226,828 shares of the company’s stock valued at $12,965,000 after buying an additional 1,800 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in shares of Torchmark by 16.6% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 17,600 shares of the company’s stock valued at $1,006,000 after buying an additional 2,510 shares in the last quarter. Fourth Swedish National Pension Fund increased its position in shares of Torchmark by 14.6% in the fourth quarter. Fourth Swedish National Pension Fund now owns 27,511 shares of the company’s stock valued at $1,572,000 after buying an additional 3,508 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Torchmark by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 241,083 shares of the company’s stock worth $13,780,000 after buying an additional 3,713 shares during the last quarter.
Shares of Torchmark Co. (NYSE:TMK) opened at 55.71 on Friday. The firm’s 50-day moving average price is $52.68 and its 200-day moving average price is $56.25. Torchmark Co. has a 12-month low of $48.47 and a 12-month high of $63.26. The company has a market capitalization of $6.87 billion and a PE ratio of 13.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Monday, April 4th will be given a $0.14 dividend. The ex-dividend date is Thursday, March 31st. This is an increase from Torchmark’s previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.01%.
TMK has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Torchmark from a “hold” rating to a “sell” rating in a report on Monday, January 4th. Wells Fargo upgraded Torchmark from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 13th. Goldman Sachs lowered their price target on Torchmark from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, January 13th. Deutsche Bank dropped their price objective on Torchmark from $59.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, January 14th. Finally, Citigroup Inc. reduced their price objective on Torchmark from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, February 4th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Torchmark currently has a consensus rating of “Hold” and an average target price of $55.90.
In other news, Director Lamar C. Smith sold 13,500 shares of the company’s stock in a transaction dated Wednesday, December 23rd. The shares were sold at an average price of $56.80, for a total transaction of $766,800.00. Following the transaction, the director now owns 67,863 shares in the company, valued at $3,854,618.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Roger C. Smith sold 15,000 shares of the stock in a transaction that occurred on Monday, January 4th. The shares were sold at an average price of $55.64, for a total transaction of $834,600.00. Following the completion of the transaction, the insider now directly owns 18,455 shares of the company’s stock, valued at $1,026,836.20. The disclosure for this sale can be found here.
Torchmark Corporation is an insurance holding company. The Company’s segments include life insurance, health insurance, Medicare Part D, annuities and investment. The life insurance segment offers whole-life insurance, term life insurance and other life insurance products. The health insurance segment offers supplemental limited-benefit health insurance products primarily for cancer and accident plans.
