Torchmark Corporation (TMK) to Issue Quarterly Dividend of $0.15 on November 1st
Torchmark Corporation (NYSE:TMK) declared a quarterly dividend on Monday, August 28th, RTT News reports. Investors of record on Friday, October 6th will be given a dividend of 0.15 per share by the insurance provider on Wednesday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, October 5th.
Torchmark Corporation has raised its dividend payment by an average of 8.0% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Torchmark Corporation has a payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Torchmark Corporation to earn $5.08 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 11.8%.
Shares of Torchmark Corporation (NYSE:TMK) opened at 80.41 on Wednesday. The firm has a 50-day moving average of $77.73 and a 200-day moving average of $77.03. The firm has a market capitalization of $9.35 billion, a P/E ratio of 17.30 and a beta of 1.00. Torchmark Corporation has a one year low of $62.86 and a one year high of $80.51.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. On average, equities analysts predict that Torchmark Corporation will post $4.75 earnings per share for the current fiscal year.
In related news, insider John Henry Rogers, Jr. sold 1,875 shares of Torchmark Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $79.25, for a total transaction of $148,593.75. Following the transaction, the insider now owns 1,875 shares of the company’s stock, valued at approximately $148,593.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Arvelia Bowie sold 16,875 shares of Torchmark Corporation stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $78.45, for a total transaction of $1,323,843.75. Following the transaction, the vice president now directly owns 17,941 shares in the company, valued at approximately $1,407,471.45. The disclosure for this sale can be found here. Insiders have sold a total of 137,821 shares of company stock valued at $10,837,593 over the last 90 days. Corporate insiders own 3.79% of the company’s stock.
TMK has been the subject of several analyst reports. BidaskClub cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Finally, Barclays PLC increased their price objective on shares of Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $73.33.
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Torchmark Corporation Company Profile
Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.
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