Domenico Bertini Sells 4,500 Shares of Torchmark Corp. (TMK) Stock
Torchmark Corp. (NYSE:TMK) insider Domenico Bertini sold 4,500 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $69.99, for a total transaction of $314,955.00. Following the completion of the sale, the insider now directly owns 4,500 shares of the company’s stock, valued at $314,955. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Torchmark Corp. (NYSE:TMK) opened at 70.38 on Tuesday. Torchmark Corp. has a 12 month low of $48.47 and a 12 month high of $71.49. The company’s 50 day moving average is $65.39 and its 200 day moving average is $62.71. The stock has a market cap of $8.35 billion, a PE ratio of 15.87 and a beta of 0.95.
Torchmark Corp. (NYSE:TMK) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $990 million during the quarter, compared to analyst estimates of $964.48 million. During the same quarter last year, the business posted $1.08 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts anticipate that Torchmark Corp. will post $4.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Friday, January 6th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, January 4th. This represents a $0.56 dividend on an annualized basis and a yield of 0.80%. Torchmark Corp.’s payout ratio is 12.56%.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Torchmark Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 10,914,289 shares of the company’s stock worth $674,722,000 after buying an additional 150,220 shares during the last quarter. FMR LLC raised its stake in shares of Torchmark Corp. by 21.4% in the second quarter. FMR LLC now owns 4,299,373 shares of the company’s stock worth $265,788,000 after buying an additional 757,907 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Torchmark Corp. by 1.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,364,173 shares of the company’s stock worth $214,937,000 after buying an additional 45,517 shares during the last quarter. Boston Partners raised its stake in shares of Torchmark Corp. by 6.9% in the second quarter. Boston Partners now owns 2,687,021 shares of the company’s stock worth $166,112,000 after buying an additional 173,190 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Torchmark Corp. by 3.9% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,678,643 shares of the company’s stock worth $165,594,000 after buying an additional 100,300 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.
Several analysts have weighed in on TMK shares. Wells Fargo & Co. reissued an “underperform” rating on shares of Torchmark Corp. in a research note on Friday, September 23rd. Zacks Investment Research raised shares of Torchmark Corp. from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, September 27th. Credit Suisse Group AG started coverage on shares of Torchmark Corp. in a research note on Friday, October 7th. They issued a “neutral” rating and a $68.00 price target for the company. RBC Capital Markets reissued an “underperform” rating and issued a $55.00 price target (up from $53.00) on shares of Torchmark Corp. in a research note on Monday, August 1st. Finally, Deutsche Bank AG upped 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. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $59.90.
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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