Swiss National Bank Lowers Position in Torchmark Co. (NYSE:TMK)

Swiss National Bank cut its stake in shares of Torchmark Co. (NYSE:TMK) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 344,928 shares of the insurance provider’s stock after selling 8,800 shares during the period. Swiss National Bank owned about 0.31% of Torchmark worth $30,857,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB lifted its position in shares of Torchmark by 45.4% in the first quarter. Xact Kapitalforvaltning AB now owns 27,530 shares of the insurance provider’s stock valued at $2,256,000 after acquiring an additional 8,600 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Torchmark by 4.1% in the second quarter. Sumitomo Life Insurance Co. now owns 16,160 shares of the insurance provider’s stock valued at $1,446,000 after acquiring an additional 639 shares in the last quarter. Andra AP fonden purchased a new position in shares of Torchmark in the first quarter valued at about $7,818,000. First Republic Investment Management Inc. lifted its position in shares of Torchmark by 4.9% in the first quarter. First Republic Investment Management Inc. now owns 11,058 shares of the insurance provider’s stock valued at $906,000 after acquiring an additional 519 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Torchmark by 14.1% in the first quarter. Janney Montgomery Scott LLC now owns 17,493 shares of the insurance provider’s stock valued at $1,434,000 after acquiring an additional 2,161 shares in the last quarter. Institutional investors own 75.76% of the company’s stock.

NYSE:TMK opened at $0.00 on Thursday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $9.69 billion, a P/E ratio of 0.00, a P/E/G ratio of 1.68 and a beta of 0.95. Torchmark Co. has a 12 month low of $69.68 and a 12 month high of $93.26. The business’s 50-day moving average is $88.05 and its 200 day moving average is $86.13.

Torchmark (NYSE:TMK) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.02. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Torchmark had a return on equity of 12.90% and a net margin of 16.26%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 earnings per share. On average, research analysts forecast that Torchmark Co. will post 6.73 earnings per share for the current year.

In other Torchmark news, CFO Frank M. Svoboda sold 11,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $91.85, for a total transaction of $1,033,312.50. Following the sale, the chief financial officer now directly owns 117,783 shares of the company’s stock, valued at $10,818,368.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vern D. Herbel sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $92.25, for a total value of $4,612,500.00. Following the sale, the executive vice president now directly owns 50,000 shares in the company, valued at $4,612,500. The disclosure for this sale can be found here. Insiders sold 126,018 shares of company stock worth $11,587,769 over the last quarter. 3.64% of the stock is owned by company insiders.

Several equities analysts have recently commented on TMK shares. Morgan Stanley boosted their price objective on Torchmark from $84.00 to $86.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Tuesday, May 21st. Two 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 a consensus rating of “Hold” and a consensus price target of $86.50.

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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