First Trust Advisors LP Reduces Position in Torchmark Co. (NYSE:TMK)

First Trust Advisors LP lessened its position in Torchmark Co. (NYSE:TMK) by 44.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 201,335 shares of the insurance provider’s stock after selling 162,562 shares during the period. First Trust Advisors LP owned about 0.18% of Torchmark worth $18,011,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Zions Bancorporation N.A. bought a new position in Torchmark during the first quarter valued at approximately $29,000. Quadrant Capital Group LLC increased its holdings in Torchmark by 773.4% during the first quarter. Quadrant Capital Group LLC now owns 690 shares of the insurance provider’s stock valued at $55,000 after buying an additional 611 shares during the last quarter. Parallel Advisors LLC increased its holdings in Torchmark by 69.3% during the first quarter. Parallel Advisors LLC now owns 1,686 shares of the insurance provider’s stock valued at $138,000 after buying an additional 690 shares during the last quarter. ETF Managers Group LLC increased its holdings in Torchmark by 10.3% during the first quarter. ETF Managers Group LLC now owns 1,707 shares of the insurance provider’s stock valued at $140,000 after buying an additional 160 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Torchmark by 28.7% during the first quarter. Signaturefd LLC now owns 1,738 shares of the insurance provider’s stock valued at $142,000 after buying an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 75.76% of the company’s stock.

A number of brokerages recently weighed in on TMK. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Tuesday, May 21st. Morgan Stanley upped their target price on shares of Torchmark from $84.00 to $86.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $86.50.

In other news, insider John Henry Rogers, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $89.33, for a total value of $89,330.00. Following the completion of the sale, the insider now owns 1,000 shares in the company, valued at approximately $89,330. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Carol A. Mccoy sold 6,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $88.62, for a total transaction of $531,720.00. Following the completion of the sale, the vice president now owns 101,043 shares of the company’s stock, valued at approximately $8,954,430.66. The disclosure for this sale can be found here. Insiders have sold 126,018 shares of company stock valued at $11,587,769 in the last quarter. 3.64% of the stock is owned by company insiders.

TMK stock traded down $88.10 during trading on Friday, hitting $0.00. 500,000 shares of the company’s stock traded hands, compared to its average volume of 500,082. Torchmark Co. has a 52 week low of $69.68 and a 52 week high of $93.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.06 and a current ratio of 0.06. The business has a fifty day simple moving average of $86.15 and a 200 day simple moving average of $85.73. The stock has a market capitalization of $110,000.00, a price-to-earnings ratio of 0.00, a P/E/G ratio of 1.68 and a beta of 0.95.

Torchmark (NYSE:TMK) last released its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.02. Torchmark had a net margin of 16.26% and a return on equity of 12.90%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $1.51 earnings per share. Torchmark’s quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts forecast that Torchmark Co. will post 6.73 earnings per share for the current fiscal year.

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, 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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