Parsons Capital Management Inc. RI Sells 658 Shares of Torchmark Co. (NYSE:TMK)

Parsons Capital Management Inc. RI lowered its holdings in shares of Torchmark Co. (NYSE:TMK) by 2.5% in the second quarter, HoldingsChannel reports. The firm owned 25,365 shares of the insurance provider’s stock after selling 658 shares during the period. Parsons Capital Management Inc. RI’s holdings in Torchmark were worth $2,269,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the stock. DekaBank Deutsche Girozentrale raised its position in shares of Torchmark by 61.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 243,407 shares of the insurance provider’s stock valued at $21,563,000 after buying an additional 93,105 shares in the last quarter. Keybank National Association OH raised its position in shares of Torchmark by 2.7% in the second quarter. Keybank National Association OH now owns 4,991 shares of the insurance provider’s stock valued at $446,000 after buying an additional 130 shares in the last quarter. Advisor Group Inc. raised its position in shares of Torchmark by 16.1% in the second quarter. Advisor Group Inc. now owns 5,528 shares of the insurance provider’s stock valued at $494,000 after buying an additional 766 shares in the last quarter. Highstreet Asset Management Inc. acquired a new stake in shares of Torchmark in the second quarter valued at approximately $157,000. Finally, Ibex Wealth Advisors acquired a new stake in shares of Torchmark in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 75.76% of the company’s stock.

In other Torchmark news, EVP Robert Brian Mitchell sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $87.90, for a total transaction of $659,250.00. Following the completion of the transaction, the executive vice president now directly owns 103,478 shares in the company, valued at $9,095,716.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gary L. Coleman sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $92.06, for a total transaction of $1,196,780.00. Following the transaction, the chief executive officer now owns 696,373 shares of the company’s stock, valued at $64,108,098.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,924 shares of company stock valued at $14,140,749. Company insiders own 3.64% of the company’s stock.



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

Shares of NYSE TMK traded down $3.43 during midday trading on Thursday, reaching $85.07. The company’s stock had a trading volume of 511,406 shares, compared to its average volume of 500,082. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. Torchmark Co. has a fifty-two week low of $69.68 and a fifty-two week high of $93.26. The stock’s 50 day moving average price is $88.41. The firm has a market cap of $9.59 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.68 and a beta of 0.95.

Torchmark (NYSE:TMK) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.67 EPS for the quarter, beating the 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 the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $1.51 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Sell-side analysts anticipate that Torchmark Co. will post 6.73 earnings per share for the current year.

Torchmark 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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