Credit Suisse AG Boosts Holdings in Torchmark Co. (TMK)

Credit Suisse AG boosted its position in Torchmark Co. (NYSE:TMK) by 9.0% in the third quarter, HoldingsChannel reports. The firm owned 173,214 shares of the insurance provider’s stock after buying an additional 14,307 shares during the quarter. Credit Suisse AG’s holdings in Torchmark were worth $15,016,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC raised its holdings in Torchmark by 5.8% in the third quarter. FMR LLC now owns 2,559,426 shares of the insurance provider’s stock worth $221,877,000 after purchasing an additional 139,310 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Torchmark by 1.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,967,908 shares of the insurance provider’s stock worth $160,207,000 after purchasing an additional 19,800 shares in the last quarter. Boston Partners raised its holdings in Torchmark by 2.0% in the second quarter. Boston Partners now owns 1,562,482 shares of the insurance provider’s stock worth $127,202,000 after purchasing an additional 30,116 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Torchmark by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 1,498,890 shares of the insurance provider’s stock worth $122,025,000 after purchasing an additional 203,149 shares in the last quarter. Finally, SPF Beheer BV raised its holdings in Torchmark by 2.0% in the second quarter. SPF Beheer BV now owns 912,142 shares of the insurance provider’s stock worth $74,257,000 after purchasing an additional 17,509 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

In other news, insider John Henry Rogers, Jr. sold 1,875 shares of the firm’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $88.16, for a total transaction of $165,300.00. Following the completion of the transaction, the insider now directly owns 1,875 shares in the company, valued at $165,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Frank M. Svoboda sold 12,375 shares of the firm’s 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 transaction, the chief financial officer now owns 105,828 shares of the company’s stock, valued at $9,281,115.60. The disclosure for this sale can be found here. Insiders have sold 14,461 shares of company stock valued at $1,268,301 over the last 90 days. Corporate insiders own 3.68% of the company’s stock.

Shares of NYSE:TMK opened at $82.22 on Thursday. Torchmark Co. has a 1-year low of $80.34 and a 1-year high of $93.60. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.25. The firm has a market cap of $9.64 billion, a PE ratio of 17.06, a P/E/G ratio of 1.03 and a beta of 0.86.

Torchmark (NYSE:TMK) last issued its quarterly earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.06. Torchmark had a return on equity of 11.70% and a net margin of 36.42%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. On average, sell-side analysts predict that Torchmark Co. will post 6.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Friday, January 4th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, January 3rd. This represents a $0.64 annualized dividend and a dividend yield of 0.78%. Torchmark’s payout ratio is presently 13.28%.

A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Thursday, October 4th. Morgan Stanley increased their price objective on Torchmark from $81.00 to $83.00 and gave the stock an “underweight” rating in a report on Tuesday, November 13th. SunTrust Banks decreased their price objective on Torchmark from $89.00 to $84.00 and set a “hold” rating for the company in a report on Monday, October 29th. Finally, Goldman Sachs Group downgraded Torchmark from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $92.00 to $78.00 in a report on Monday, September 10th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $85.86.

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Torchmark Company 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.

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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)

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