WBI Investments Inc. Buys Shares of 17,719 Torchmark Co. (TMK)

WBI Investments Inc. bought a new stake in Torchmark Co. (NYSE:TMK) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 17,719 shares of the insurance provider’s stock, valued at approximately $1,536,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TMK. Acadian Asset Management LLC acquired a new stake in shares of Torchmark in the 2nd quarter valued at about $96,784,000. MERIAN GLOBAL INVESTORS UK Ltd boosted its position in shares of Torchmark by 148.3% in 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 purchasing an additional 382,677 shares during the period. Bank of Nova Scotia boosted its position in shares of Torchmark by 2,226.5% in the 2nd quarter. Bank of Nova Scotia now owns 315,451 shares of the insurance provider’s stock valued at $25,680,000 after purchasing an additional 301,892 shares during the period. James Investment Research Inc. acquired a new stake in shares of Torchmark in the 2nd quarter valued at about $22,360,000. Finally, First Trust Advisors LP boosted its position 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. 74.33% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on TMK shares. Goldman Sachs Group cut Torchmark from a “neutral” rating to a “sell” rating and decreased their target price for the company from $92.00 to $78.00 in a research report on Monday, September 10th. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Saturday, July 7th. SunTrust Banks decreased their price objective on Torchmark from $89.00 to $84.00 and set a “hold” rating for the company in a research report on Monday, October 29th. Finally, Morgan Stanley increased their price objective on Torchmark from $80.00 to $81.00 and gave the stock an “underweight” rating in a research report on Thursday, July 26th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.25.

In other news, EVP Robert Brian Mitchell sold 45,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $87.84, for a total transaction of $3,952,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vern D. Herbel sold 52,500 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $88.25, for a total value of $4,633,125.00. Following the transaction, the executive vice president now directly owns 52,500 shares of the company’s stock, valued at $4,633,125. The disclosure for this sale can be found here. Over the last three months, insiders have sold 367,454 shares of company stock valued at $32,412,768. Company insiders own 3.68% of the company’s stock.

Torchmark stock opened at $84.73 on Friday. Torchmark Co. has a twelve month low of $80.34 and a twelve month high of $93.60. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.15. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 1.01 and a beta of 0.86.

Torchmark (NYSE:TMK) last posted its quarterly earnings data on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.06. Torchmark had a return on equity of 11.53% and a net margin of 36.42%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. As a group, research analysts forecast that Torchmark Co. will post 6.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, October 5th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, October 4th. Torchmark’s dividend payout ratio (DPR) is 13.28%.

About Torchmark

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.

Further Reading: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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