Allianz Asset Management GmbH lifted its position in Torchmark Co. (NYSE:TMK) by 38.1% during the 3rd quarter, Holdings Channel reports. The firm owned 214,997 shares of the insurance provider’s stock after acquiring an additional 59,339 shares during the quarter. Allianz Asset Management GmbH’s holdings in Torchmark were worth $18,639,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TMK. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in shares of Torchmark by 148.3% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 640,781 shares of the insurance provider’s stock worth $55,549,000 after purchasing an additional 382,677 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Torchmark by 2,226.5% in the second quarter. Bank of Nova Scotia now owns 315,451 shares of the insurance provider’s stock worth $25,680,000 after purchasing an additional 301,892 shares during the last quarter. First Trust Advisors LP increased its stake in Torchmark by 150.4% during the second quarter. First Trust Advisors LP now owns 392,389 shares of the insurance provider’s stock worth $31,944,000 after acquiring an additional 235,655 shares during the last quarter. Millennium Management LLC increased its stake in Torchmark by 305.0% during the second quarter. Millennium Management LLC now owns 302,176 shares of the insurance provider’s stock worth $24,600,000 after acquiring an additional 227,566 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Torchmark by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 1,498,890 shares of the insurance provider’s stock worth $122,025,000 after acquiring an additional 203,149 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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

Several brokerages have weighed in on TMK. Morgan Stanley boosted their price objective on Torchmark from $81.00 to $83.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 13th. Zacks Investment Research cut Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. SunTrust Banks reduced their price objective on Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Finally, Goldman Sachs Group cut Torchmark from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $92.00 to $78.00 in a research note on Monday, September 10th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Torchmark presently has a consensus rating of “Hold” and an average price target of $85.86.

Shares of NYSE TMK opened at $80.25 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.25. Torchmark Co. has a 1-year low of $79.37 and a 1-year high of $93.60. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 0.98 and a beta of 0.86.

Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.06. Torchmark had a return on equity of 11.70% and a net margin of 36.42%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. As a group, analysts predict that Torchmark Co. will post 6.13 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Friday, January 4th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $0.64 annualized dividend and a yield of 0.80%. Torchmark’s payout ratio is currently 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.

Further Reading: Capital gains and your 401(k) or IRA

Want to see what other hedge funds are holding TMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Torchmark Co. (NYSE:TMK).

Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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