WEALTHFRONT Corp Buys Shares of 10,074 Torchmark Co. (TMK)

WEALTHFRONT Corp bought a new stake in shares of Torchmark Co. (NYSE:TMK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,074 shares of the insurance provider’s stock, valued at approximately $873,000.

Several other institutional investors also recently added to or reduced their stakes in TMK. MERIAN GLOBAL INVESTORS UK Ltd grew its position in shares of Torchmark by 148.3% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 640,781 shares of the insurance provider’s stock valued at $55,549,000 after acquiring an additional 382,677 shares during the period. Bank of Nova Scotia grew its position in shares of Torchmark by 2,226.5% during the 2nd quarter. Bank of Nova Scotia now owns 315,451 shares of the insurance provider’s stock valued at $25,680,000 after acquiring an additional 301,892 shares during the period. First Trust Advisors LP grew its position in shares of Torchmark by 150.4% during the 2nd quarter. First Trust Advisors LP now owns 392,389 shares of the insurance provider’s stock valued at $31,944,000 after acquiring an additional 235,655 shares during the period. Millennium Management LLC grew its position in shares of Torchmark by 305.0% during the 2nd quarter. Millennium Management LLC now owns 302,176 shares of the insurance provider’s stock valued at $24,600,000 after acquiring an additional 227,566 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Torchmark by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,498,890 shares of the insurance provider’s stock valued at $122,025,000 after acquiring an additional 203,149 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

In related news, insider John Henry Rogers, Jr. sold 1,875 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $88.16, for a total transaction of $165,300.00. Following the sale, the insider now directly owns 1,875 shares in the company, valued at approximately $165,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Frank M. Svoboda sold 12,375 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $87.70, for a total transaction of $1,085,287.50. Following the sale, the chief financial officer now owns 105,828 shares in the company, valued at $9,281,115.60. The disclosure for this sale can be found here. Insiders have sold a total of 14,461 shares of company stock worth $1,268,301 over the last 90 days. 3.68% of the stock is currently owned by corporate insiders.

Shares of TMK stock opened at $80.25 on Friday. The company has a market cap of $9.03 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 0.96 and a beta of 0.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.09 and a current ratio of 0.09. Torchmark Co. has a 12 month low of $79.37 and a 12 month high of $93.60.

Torchmark (NYSE:TMK) last announced its quarterly earnings results on Wednesday, October 24th. The insurance provider reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.06. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Torchmark had a net margin of 36.42% and a return on equity of 11.70%. As a group, research analysts forecast that Torchmark Co. will post 6.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Friday, January 4th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, January 3rd. Torchmark’s payout ratio is currently 13.28%.

A number of research analysts have recently weighed in on TMK shares. Zacks Investment Research downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Morgan Stanley increased their target price on shares of Torchmark from $81.00 to $83.00 and gave the company an “underweight” rating in a research report on Tuesday, November 13th. Goldman Sachs Group downgraded shares of Torchmark from a “neutral” rating to a “sell” rating and reduced their target price for the company from $92.00 to $78.00 in a research report on Monday, September 10th. Finally, SunTrust Banks dropped their price target on shares of Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price 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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Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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