Unigestion Holding SA decreased its position in Torchmark Co. (NYSE:TMK) by 11.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 144,097 shares of the insurance provider’s stock after selling 19,251 shares during the period. Unigestion Holding SA owned about 0.13% of Torchmark worth $12,492,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of TMK. Acadian Asset Management LLC acquired a new stake in Torchmark in the second quarter valued at $96,784,000. MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in Torchmark by 148.3% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 640,781 shares of the insurance provider’s stock valued at $55,549,000 after purchasing an additional 382,677 shares during the last quarter. Bank of Nova Scotia grew its holdings in Torchmark by 2,226.5% in the second quarter. Bank of Nova Scotia now owns 315,451 shares of the insurance provider’s stock valued at $25,680,000 after purchasing an additional 301,892 shares during the last quarter. James Investment Research Inc. acquired a new stake in Torchmark in the second quarter valued at $22,360,000. Finally, First Trust Advisors LP grew its holdings in Torchmark by 150.4% in the second quarter. First Trust Advisors LP now owns 392,389 shares of the insurance provider’s stock valued at $31,944,000 after purchasing an additional 235,655 shares during the last quarter. 74.27% of the stock is currently owned by institutional investors.
TMK opened at $86.92 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.15. The firm has a market cap of $9.85 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.04 and a beta of 0.86. Torchmark Co. has a 52 week low of $80.34 and a 52 week high of $93.60.
Torchmark (NYSE:TMK) last posted its quarterly earnings data on Wednesday, October 24th. The insurance provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.06. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. Torchmark had a return on equity of 11.53% and a net margin of 36.42%. Equities analysts predict that Torchmark Co. will post 6.13 earnings per share for the current fiscal year.
TMK has been the topic of several research reports. Zacks Investment Research lowered Torchmark from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Morgan Stanley upped their target price on Torchmark from $80.00 to $81.00 and gave the company an “underweight” rating in a report on Thursday, July 26th. Goldman Sachs Group lowered Torchmark from a “neutral” rating to a “sell” rating and lowered their target price for the company from $92.00 to $78.00 in a report on Monday, September 10th. Finally, SunTrust Banks lowered their target price on Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a report on Monday, October 29th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $85.25.
In related news, insider Bill Leavell sold 187,500 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $88.10, for a total transaction of $16,518,750.00. Following the sale, the insider now owns 18,750 shares of the company’s stock, valued at $1,651,875. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Frank M. Svoboda sold 12,375 shares of the stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $87.70, for a total value of $1,085,287.50. Following the sale, the chief financial officer now directly owns 105,828 shares in the company, valued at approximately $9,281,115.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 379,829 shares of company stock worth $33,498,056. Corporate insiders own 3.68% of the company’s stock.
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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.
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