Daiwa Securities Group Inc. Has $9.35 Million Stake in Torchmark Co. (NYSE:TMK)

Daiwa Securities Group Inc. boosted its position in shares of Torchmark Co. (NYSE:TMK) by 15.5% in the second quarter, Holdings Channel reports. The fund owned 104,487 shares of the insurance provider’s stock after acquiring an additional 14,041 shares during the period. Daiwa Securities Group Inc.’s holdings in Torchmark were worth $9,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in TMK. Zions Bancorporation N.A. acquired a new position in Torchmark during the 1st quarter worth $29,000. Quadrant Capital Group LLC lifted its position in Torchmark by 773.4% during the 1st quarter. Quadrant Capital Group LLC now owns 690 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 611 shares during the last quarter. Parallel Advisors LLC lifted its position in Torchmark by 69.3% during the 1st quarter. Parallel Advisors LLC now owns 1,686 shares of the insurance provider’s stock worth $138,000 after acquiring an additional 690 shares during the last quarter. ETF Managers Group LLC lifted its position in Torchmark by 10.3% during the 1st quarter. ETF Managers Group LLC now owns 1,707 shares of the insurance provider’s stock worth $140,000 after acquiring an additional 160 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Torchmark by 28.7% during the 1st quarter. Signaturefd LLC now owns 1,738 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 388 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

NYSE:TMK opened at $87.65 on Friday. The stock’s 50-day moving average is $90.50. 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 company has a market cap of $10.04 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.79 and a beta of 0.95.

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

A number of research firms have weighed in on TMK. Zacks Investment Research raised 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 boosted 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 equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $86.50.

In other Torchmark news, VP Carol A. Mccoy sold 6,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $88.64, for a total transaction of $531,840.00. Following the sale, the vice president now directly owns 101,043 shares of the company’s stock, valued at $8,956,451.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Frank M. Svoboda sold 11,250 shares of the company’s stock in a transaction dated 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 in the company, valued at $10,818,368.55. The disclosure for this sale can be found here. In the last three months, insiders sold 220,542 shares of company stock worth $19,858,458. 3.64% of the stock is currently owned by insiders.

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, 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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