Mackay Shields LLC Buys 35,684 Shares of Torchmark Co. (TMK)

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Mackay Shields LLC grew its stake in shares of Torchmark Co. (NYSE:TMK) by 34.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 138,712 shares of the insurance provider’s stock after acquiring an additional 35,684 shares during the period. Mackay Shields LLC owned about 0.12% of Torchmark worth $10,338,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new position in shares of Torchmark in the fourth quarter worth $642,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Torchmark by 55.1% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,087 shares of the insurance provider’s stock worth $4,404,000 after acquiring an additional 21,000 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Torchmark in the fourth quarter worth $1,143,000. Sumitomo Life Insurance Co. increased its stake in shares of Torchmark by 2.5% in the fourth quarter. Sumitomo Life Insurance Co. now owns 17,269 shares of the insurance provider’s stock worth $1,287,000 after acquiring an additional 418 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in shares of Torchmark by 7.1% in the fourth quarter. Oakworth Capital Inc. now owns 26,832 shares of the insurance provider’s stock worth $2,000,000 after acquiring an additional 1,786 shares during the last quarter. 74.66% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on TMK shares. ValuEngine raised shares of Torchmark from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Saturday, January 5th. Finally, JPMorgan Chase & Co. raised shares of Torchmark from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $85.60.

In related news, CEO Gary L. Coleman sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $83.60, for a total value of $1,003,200.00. Following the completion of the sale, the chief executive officer now directly owns 661,547 shares in the company, valued at $55,305,329.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Frank M. Svoboda sold 15,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $82.72, for a total transaction of $1,240,800.00. Following the completion of the sale, the chief financial officer now owns 121,533 shares of the company’s stock, valued at $10,053,209.76. The disclosure for this sale can be found here. Insiders sold 52,000 shares of company stock valued at $4,304,340 over the last quarter. 3.68% of the stock is currently owned by corporate insiders.

Shares of NYSE:TMK opened at $83.11 on Friday. The firm has a market capitalization of $9.16 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. Torchmark Co. has a 1 year low of $69.68 and a 1 year high of $89.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.06 and a quick ratio of 0.06.

Torchmark (NYSE:TMK) last issued its quarterly earnings data on Tuesday, February 5th. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.56. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Torchmark had a net margin of 16.32% and a return on equity of 12.66%. Torchmark’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. As a group, equities analysts anticipate that Torchmark Co. will post 6.61 EPS for the current year.

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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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