Pictet Asset Management Ltd. Has $10.10 Million Holdings in Torchmark Co. (TMK)

Pictet Asset Management Ltd. raised its position in shares of Torchmark Co. (NYSE:TMK) by 11.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,524 shares of the insurance provider’s stock after buying an additional 11,772 shares during the quarter. Pictet Asset Management Ltd. owned 0.10% of Torchmark worth $10,101,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TMK. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in Torchmark by 148.3% during 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 buying an additional 382,677 shares in the last quarter. Bank of Nova Scotia lifted its stake in Torchmark by 2,226.5% during the second quarter. Bank of Nova Scotia now owns 315,451 shares of the insurance provider’s stock valued at $25,680,000 after buying an additional 301,892 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Torchmark by 150.4% in the 2nd 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 period. Millennium Management LLC increased its holdings in shares of Torchmark by 305.0% in the 2nd quarter. Millennium Management LLC now owns 302,176 shares of the insurance provider’s stock valued at $24,600,000 after purchasing an additional 227,566 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Torchmark by 15.7% in 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 purchasing an additional 203,149 shares during the period. 74.52% of the stock is owned by institutional investors.

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

A number of brokerages have recently weighed in on TMK. SunTrust Banks dropped 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. Goldman Sachs Group downgraded Torchmark from a “neutral” rating to a “sell” rating and dropped their target price for the company from $92.00 to $78.00 in a report on Monday, September 10th. Morgan Stanley upped their target price on Torchmark from $81.00 to $83.00 and gave the company an “underweight” rating in a report on Tuesday, November 13th. Finally, Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Thursday, October 4th. Four investment 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 target price of $85.86.

Shares of TMK opened at $80.25 on Friday. The stock has a market capitalization of $9.17 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.98 and a beta of 0.86. Torchmark Co. has a fifty-two week low of $79.37 and a fifty-two week high of $93.60. 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 (NYSE:TMK) last issued its earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.06. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. Torchmark had a return on equity of 11.70% and a net margin of 36.42%. On average, sell-side analysts expect that Torchmark Co. will post 6.13 EPS for the current fiscal year.

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

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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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