Arvelia Bowie Sells 5,375 Shares of Torchmark Corp. (TMK) Stock
Torchmark Corp. (NYSE:TMK) VP Arvelia Bowie sold 5,375 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $68.95, for a total value of $370,606.25. Following the sale, the vice president now owns 5,375 shares of the company’s stock, valued at approximately $370,606.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Torchmark Corp. (NYSE:TMK) opened at 70.02 on Monday. Torchmark Corp. has a 52 week low of $48.47 and a 52 week high of $70.22. The firm’s 50-day moving average price is $64.31 and its 200 day moving average price is $62.12. The company has a market cap of $8.31 billion, a P/E ratio of 15.79 and a beta of 0.95.
Torchmark Corp. (NYSE:TMK) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. Torchmark Corp. had a return on equity of 11.77% and a net margin of 14.05%. The business earned $990 million during the quarter, compared to analysts’ expectations of $964.48 million. During the same quarter in the previous year, the firm earned $1.08 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Torchmark Corp. will post $4.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Friday, January 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.80%. Torchmark Corp.’s dividend payout ratio is presently 12.56%.
A number of brokerages have weighed in on TMK. Wells Fargo & Co. restated an “underperform” rating on shares of Torchmark Corp. in a research note on Friday, September 23rd. Credit Suisse Group AG began coverage on Torchmark Corp. in a research note on Friday, October 7th. They set a “neutral” rating and a $68.00 price objective for the company. Zacks Investment Research lowered Torchmark Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Deutsche Bank AG lifted their target price on Torchmark Corp. from $56.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Finally, Royal Bank Of Canada lifted their target price on Torchmark Corp. from $53.00 to $55.00 and gave the stock an “underperform” rating in a research report on Monday, August 1st. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Torchmark Corp. has an average rating of “Hold” and an average target price of $59.90.
Institutional investors have recently bought and sold shares of the company. Credit Agricole S A boosted its position in Torchmark Corp. by 3.4% in the first quarter. Credit Agricole S A now owns 25,450 shares of the company’s stock valued at $1,378,000 after buying an additional 842 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in Torchmark Corp. by 8.8% in the first quarter. Pictet Asset Management Ltd. now owns 88,160 shares of the company’s stock valued at $4,515,000 after buying an additional 7,150 shares during the period. Geode Capital Management LLC boosted its position in Torchmark Corp. by 0.4% in the first quarter. Geode Capital Management LLC now owns 956,016 shares of the company’s stock valued at $51,674,000 after buying an additional 3,607 shares during the period. Nuveen Asset Management LLC boosted its position in Torchmark Corp. by 22.4% in the first quarter. Nuveen Asset Management LLC now owns 35,310 shares of the company’s stock valued at $1,912,000 after buying an additional 6,469 shares during the period. Finally, A.R.T. Advisors LLC purchased a new position in Torchmark Corp. during the first quarter valued at approximately $1,200,000. 74.98% of the stock is owned by institutional investors and hedge funds.
About Torchmark Corp.
Torchmark Corporation is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance.
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