Melissa Jane Buchan Sells 3,825 Shares of Torchmark Corp. (TMK) Stock
Torchmark Corp. (NYSE:TMK) Director Melissa Jane Buchan sold 3,825 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $71.12, for a total transaction of $272,034.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Torchmark Corp. (NYSE:TMK) opened at 69.99 on Wednesday. The company has a 50 day moving average of $64.31 and a 200-day moving average of $62.12. The firm has a market cap of $8.30 billion, a PE ratio of 15.78 and a beta of 0.95. Torchmark Corp. has a 12-month low of $48.47 and a 12-month high of $70.68.
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, topping the Zacks’ 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 business had revenue of $990 million for the quarter, compared to analyst estimates of $964.48 million. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Torchmark Corp.’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Torchmark Corp. will post $4.47 EPS for the current fiscal year.
The business also recently announced 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 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, January 4th. Torchmark Corp.’s dividend payout ratio (DPR) is currently 12.56%.
A number of institutional investors have recently made changes to their positions in the company. Balentine LLC raised its position in shares of Torchmark Corp. by 5.7% in the second quarter. Balentine LLC now owns 1,855 shares of the company’s stock worth $115,000 after buying an additional 100 shares during the period. Glenmede Trust Co. NA raised its position in shares of 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. SRB Corp raised its position in shares of Torchmark Corp. by 3.6% in the third quarter. SRB Corp now owns 2,470 shares of the company’s stock worth $158,000 after buying an additional 86 shares during the period. Advisor Group Inc. bought a new position in shares of Torchmark Corp. during the second quarter worth about $151,000. Finally, State of Alaska Department of Revenue raised its position in shares of 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. 74.98% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on TMK shares. Zacks Investment Research upgraded shares of Torchmark Corp. from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, September 27th. Deutsche Bank AG increased their price objective on shares of Torchmark Corp. from $56.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Credit Suisse Group AG started coverage on shares of Torchmark Corp. in a research note on Friday, October 7th. They set a “neutral” rating and a $68.00 price objective on the stock. Wells Fargo & Co. reiterated an “underperform” rating on shares of Torchmark Corp. in a research note on Friday, September 23rd. Finally, RBC Capital Markets reiterated an “underperform” rating and set a $55.00 price objective (up from $53.00) on shares of Torchmark Corp. in a research note on Monday, August 1st. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Torchmark Corp. has an average rating of “Hold” and an average price target 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.
Receive News & Stock Ratings for Torchmark Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark Corp. and related stocks with our FREE daily email newsletter.