Perkins Investment Management Lowers stake in Torchmark Corporation (TMK)

Torchmark Corporation (TMK) : Perkins Investment Management reduced its stake in Torchmark Corporation by 0.13% during the most recent quarter end. The investment management company now holds a total of 2,011,900 shares of Torchmark Corporation which is valued at $122,927,090 after selling 2,570 shares in Torchmark Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Torchmark Corporation makes up approximately 1.71% of Perkins Investment Management’s portfolio.

Other Hedge Funds, Including , Amp Capital Investors Ltd reduced its stake in TMK by selling 1,712 shares or 3.77% in the most recent quarter. The Hedge Fund company now holds 43,645 shares of TMK which is valued at $2,666,710. Torchmark Corporation makes up approx 0.02% of Amp Capital Investors Ltd’s portfolio.Bronfman E.l. Rothschild boosted its stake in TMK in the latest quarter, The investment management firm added 642 additional shares and now holds a total of 947 shares of Torchmark Corporation which is valued at $57,862. Torchmark Corporation makes up approx 0.01% of Bronfman E.l. Rothschild’s portfolio.State Of Wisconsin Investment Board reduced its stake in TMK by selling 10,570 shares or 11.78% in the most recent quarter. The Hedge Fund company now holds 79,141 shares of TMK which is valued at $4,835,515. Torchmark Corporation makes up approx 0.02% of State Of Wisconsin Investment Board’s portfolio.Neuberger Berman Group reduced its stake in TMK by selling 22,205 shares or 8.05% in the most recent quarter. The Hedge Fund company now holds 253,709 shares of TMK which is valued at $15,757,866. Torchmark Corporation makes up approx 0.02% of Neuberger Berman Group’s portfolio.

Torchmark Corporation closed down -0.04 points or -0.06% at $64.64 with 4,83,035 shares getting traded on Thursday. Post opening the session at $64.84, the shares hit an intraday low of $64.07 and an intraday high of $64.96 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Torchmark Corporation reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.09. The company had revenue of $992.00 million for the quarter, compared to analysts expectations of $979.43 million. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.

Many Wall Street Analysts have commented on Torchmark Corporation. Company shares were Reiterated by RBC Capital Mkts on Aug 1, 2016 to “Underperform”, Firm has raised the Price Target to $ 55 from a previous price target of $53 .Torchmark Corporation was Upgraded by Goldman to ” Neutral” on Jul 15, 2016. Torchmark Corporation was Upgraded by BofA/Merrill to ” Neutral” on Jun 29, 2016.

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. It also provides coverage under the Government’s Medicare Part D plan. The Company offers single-premium and flexible-premium deferred annuity products. The Company also invests in bonds preferred stock common stocks mortgage loans real estate policy loans and others. Its primary subsidiaries are American Income Life Insurance Company Liberty National Life Insurance Company Globe Life And Accident Insurance Company United American Insurance Company and Family Heritage Life Insurance Company of America.

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