Torchmark Corp. (TMK) VP Sells $388,860.00 in Stock
Torchmark Corp. (NYSE:TMK) VP Carol A. Mccoy sold 6,000 shares of Torchmark Corp. stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $64.81, for a total value of $388,860.00. Following the completion of the sale, the vice president now directly owns 100,274 shares of the company’s stock, valued at approximately $6,498,757.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Torchmark Corp. (NYSE:TMK) opened at 70.02 on Monday. Torchmark Corp. has a 12 month low of $48.47 and a 12 month high of $70.22. The stock’s 50 day moving average price is $64.31 and its 200-day moving average price is $62.12. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 15.79 and a beta of 0.95.
Torchmark Corp. (NYSE:TMK) last announced its earnings results on Tuesday, October 25th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. Torchmark Corp. had a net margin of 14.05% and a return on equity of 11.77%. The company had revenue of $990 million for the quarter, compared to the consensus estimate of $964.48 million. During the same period in the previous year, the business earned $1.08 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Torchmark Corp. will post $4.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 6th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.80%. Torchmark Corp.’s dividend payout ratio (DPR) is currently 12.56%.
Hedge funds have recently made changes to their positions in the stock. Balentine LLC increased its stake in shares of Torchmark Corp. by 5.7% in the second quarter. Balentine LLC now owns 1,855 shares of the company’s stock valued at $115,000 after buying an additional 100 shares during the period. Glenmede Trust Co. NA increased its position in Torchmark Corp. by 2,706.2% in the second quarter. Glenmede Trust Co. NA now owns 2,273 shares of the company’s stock worth $139,000 after buying an additional 2,192 shares during the period. Advisor Group Inc. bought a new position in Torchmark Corp. during the second quarter worth $151,000. State of Alaska Department of Revenue increased its position in Torchmark Corp. by 7.7% in the second quarter. State of Alaska Department of Revenue now owns 2,542 shares of the company’s stock worth $157,000 after buying an additional 181 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its position in Torchmark Corp. by 199.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,840 shares of the company’s stock worth $181,000 after buying an additional 1,893 shares during the period. 74.98% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the company. Zacks Investment Research cut Torchmark Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Royal Bank Of Canada lifted their target price on Torchmark Corp. from $53.00 to $55.00 and gave the company an “underperform” rating in a report on Monday, August 1st. Deutsche Bank AG lifted their target price on Torchmark Corp. from $56.00 to $59.00 and gave the company a “hold” rating in a report on Friday, July 29th. RBC Capital Markets reiterated an “underperform” rating and issued a $55.00 target price (up previously from $53.00) on shares of Torchmark Corp. in a report on Monday, August 1st. Finally, Credit Suisse Group AG assumed coverage on Torchmark Corp. in a report on Friday, October 7th. They issued a “neutral” rating and a $68.00 target price on the stock. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $59.90.
Torchmark Corp. Company Profile
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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