Torchmark Corp. (TMK) Director Sells $331,930.00 in Stock
Torchmark Corp. (NYSE:TMK) Director Lloyd W. Newton sold 4,750 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $69.88, for a total value of $331,930.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Torchmark Corp. (NYSE:TMK) opened at 70.06 on Monday. Torchmark Corp. has a 12 month low of $48.47 and a 12 month high of $70.45. The stock has a market cap of $8.31 billion, a P/E ratio of 15.80 and a beta of 0.95. The stock has a 50 day moving average price of $64.31 and a 200 day moving average price of $62.12.
Torchmark Corp. (NYSE:TMK) last released 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. The business earned $990 million during the quarter, compared to analyst estimates of $964.48 million. Torchmark Corp. had a return on equity of 11.77% and a net margin of 14.05%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.08 EPS. Equities analysts anticipate that Torchmark Corp. will post $4.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Friday, January 6th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.80%. Torchmark Corp.’s payout ratio is currently 12.56%.
A number of research firms have recently weighed in on TMK. Bank of America Corp. cut Torchmark Corp. from a “neutral” rating to an “underperform” rating in a report on Friday. Wells Fargo & Co. reissued an “underperform” rating on shares of Torchmark Corp. in a report on Friday, September 23rd. Credit Suisse Group AG began coverage on Torchmark Corp. in a research note on Friday, October 7th. They issued a “neutral” rating and a $68.00 target price for the company. Zacks Investment Research lowered Torchmark Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Finally, Deutsche Bank AG upped their target price on Torchmark Corp. from $56.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.90.
Several hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake 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 last quarter. James Investment Research Inc. raised its stake in Torchmark Corp. by 3.4% in the second quarter. James Investment Research Inc. now owns 284,982 shares of the company’s stock worth $17,617,000 after buying an additional 9,282 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in Torchmark Corp. by 3.6% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 12,812 shares of the company’s stock worth $792,000 after buying an additional 450 shares during the last quarter. Davis R M Inc. raised its stake in Torchmark Corp. by 4.2% in the second quarter. Davis R M Inc. now owns 154,980 shares of the company’s stock worth $9,581,000 after buying an additional 6,210 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in Torchmark Corp. by 11.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,745,355 shares of the company’s stock worth $107,898,000 after buying an additional 179,750 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.
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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