Roger C. Smith Sells 22,500 Shares of Torchmark Corp. (TMK) Stock
Torchmark Corp. (NYSE:TMK) insider Roger C. Smith sold 22,500 shares of the stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $69.82, for a total transaction of $1,570,950.00. Following the sale, the insider now owns 51,563 shares of the company’s stock, valued at approximately $3,600,128.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Torchmark Corp. (NYSE:TMK) opened at 70.38 on Tuesday. The stock has a 50 day moving average of $65.39 and a 200 day moving average of $62.71. Torchmark Corp. has a 52-week low of $48.47 and a 52-week high of $71.49. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 15.87 and a beta of 0.95.
Torchmark Corp. (NYSE:TMK) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ 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 earned $990 million during the quarter, compared to analyst estimates of $964.48 million. During the same period in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Torchmark Corp. will post $4.47 EPS for the current fiscal year.
The firm also recently declared 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. This represents a $0.56 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Wednesday, January 4th. Torchmark Corp.’s dividend payout ratio (DPR) is presently 12.56%.
TMK has been the subject of several recent research reports. Wells Fargo & Co. reiterated an “underperform” rating on shares of Torchmark Corp. in a research note on Friday, September 23rd. Zacks Investment Research upgraded shares of Torchmark Corp. from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, September 27th. Credit Suisse Group AG assumed coverage on shares of Torchmark Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $68.00 price target for the company. RBC Capital Markets reissued an “underperform” rating and set a $55.00 price target (up from $53.00) on shares of Torchmark Corp. in a report on Monday, August 1st. Finally, Deutsche Bank AG increased their price target on shares of Torchmark Corp. from $56.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $59.90.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC raised 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. A.R.T. Advisors LLC purchased a new position in Torchmark Corp. during the first quarter worth about $1,200,000. Schonfeld Strategic Advisors LLC purchased a new position in Torchmark Corp. during the first quarter worth about $215,000. BlueMountain Capital Management LLC raised its position in Torchmark Corp. by 143.2% in the first quarter. BlueMountain Capital Management LLC now owns 11,916 shares of the company’s stock worth $645,000 after buying an additional 7,017 shares during the last quarter. Finally, Capital Investment Services of America Inc. purchased a new position in Torchmark Corp. during the second quarter worth about $214,000. 75.25% 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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