Unigestion Holding SA Cuts Stake in Torchmark Co. (TMK)
Unigestion Holding SA trimmed its position in Torchmark Co. (NYSE:TMK) by 11.8% during the third quarter, HoldingsChannel.com reports. The firm owned 144,097 shares of the insurance provider’s stock after selling 19,251 shares during the quarter. Unigestion Holding SA’s holdings in Torchmark were worth $12,492,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Advisor Partners LLC raised its holdings in shares of Torchmark by 12.1% in the 2nd quarter. Advisor Partners LLC now owns 5,988 shares of the insurance provider’s stock worth $487,000 after purchasing an additional 645 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Torchmark by 17.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,587 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 667 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Torchmark by 4.2% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,392 shares of the insurance provider’s stock worth $1,334,000 after purchasing an additional 668 shares during the period. Global X Management Co LLC raised its holdings in shares of Torchmark by 17.1% in the 2nd quarter. Global X Management Co LLC now owns 5,046 shares of the insurance provider’s stock worth $411,000 after purchasing an additional 736 shares during the period. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of Torchmark by 4.5% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 17,184 shares of the insurance provider’s stock worth $1,399,000 after purchasing an additional 737 shares during the period. Institutional investors own 74.27% of the company’s stock.
In other news, CFO Frank M. Svoboda sold 12,375 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 105,828 shares in the company, valued at $9,281,115.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vern D. Herbel sold 52,500 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $88.25, for a total value of $4,633,125.00. Following the completion of the sale, the executive vice president now owns 52,500 shares of the company’s stock, valued at approximately $4,633,125. The disclosure for this sale can be found here. In the last quarter, insiders sold 379,829 shares of company stock valued at $33,498,056. Insiders own 3.68% of the company’s stock.
Torchmark (NYSE:TMK) last posted its earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. Equities analysts predict that Torchmark Co. will post 6.13 earnings per share for the current year.
A number of equities analysts have recently commented on the company. Goldman Sachs Group downgraded Torchmark from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $92.00 to $78.00 in a report on Monday, September 10th. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Thursday, October 4th. Morgan Stanley increased their target price on Torchmark from $80.00 to $81.00 and gave the company an “underweight” rating in a research note on Thursday, July 26th. Finally, SunTrust Banks lowered their target price on Torchmark from $89.00 to $84.00 and set a “hold” rating for the company in a research note on Monday, October 29th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Torchmark currently has an average rating of “Hold” and a consensus target price of $85.25.
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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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