Lord Abbett & CO. LLC Has $17.99 Million Holdings in Torchmark Co. (TMK)

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Lord Abbett & CO. LLC grew its holdings in shares of Torchmark Co. (NYSE:TMK) by 32.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 241,400 shares of the insurance provider’s stock after acquiring an additional 59,800 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Torchmark were worth $17,992,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its stake in Torchmark by 6.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 162,439 shares of the insurance provider’s stock valued at $14,081,000 after acquiring an additional 9,661 shares during the period. Wells Fargo & Company MN lifted its stake in Torchmark by 10.7% during the 3rd quarter. Wells Fargo & Company MN now owns 179,552 shares of the insurance provider’s stock valued at $15,566,000 after acquiring an additional 17,334 shares during the period. ING Groep NV lifted its stake in Torchmark by 46.0% during the 3rd quarter. ING Groep NV now owns 3,662 shares of the insurance provider’s stock valued at $317,000 after acquiring an additional 1,154 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Torchmark by 3.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,422 shares of the insurance provider’s stock valued at $33,499,000 after acquiring an additional 13,266 shares during the period. Finally, MML Investors Services LLC acquired a new stake in Torchmark during the 3rd quarter valued at approximately $234,000. Institutional investors own 74.66% of the company’s stock.

NYSE:TMK opened at $83.11 on Monday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.25. The company has a market cap of $9.16 billion, a PE ratio of 13.56, a PEG ratio of 1.65 and a beta of 1.00. Torchmark Co. has a 1-year low of $69.68 and a 1-year high of $89.62.

Torchmark (NYSE:TMK) last posted its earnings results on Tuesday, February 5th. The insurance provider reported $1.56 earnings per share for the quarter, meeting the consensus estimate of $1.56. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.09 billion. Torchmark had a net margin of 16.32% and a return on equity of 12.66%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. Analysts expect that Torchmark Co. will post 6.61 earnings per share for the current fiscal year.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company 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. Finally, JPMorgan Chase & Co. upgraded shares of Torchmark from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Torchmark currently has a consensus rating of “Hold” and an average price target of $85.60.

In other news, Chairman Gary L. Coleman sold 13,000 shares of Torchmark stock in a transaction that occurred on 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 transaction, the chairman now directly owns 662,547 shares of the company’s stock, valued at approximately $55,057,655.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gary L. Coleman sold 12,000 shares of Torchmark stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 661,547 shares of the company’s stock, valued at $55,305,329.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,000 shares of company stock valued at $4,304,340. Insiders own 3.68% of the company’s stock.

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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, 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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Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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