Torchmark Corporation (TMK) EVP Vern D. Herbel Sells 25,000 Shares
Torchmark Corporation (NYSE:TMK) EVP Vern D. Herbel sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $83.89, for a total value of $2,097,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Torchmark Corporation (NYSE TMK) traded up $0.49 during trading on Wednesday, hitting $85.18. The company’s stock had a trading volume of 558,200 shares, compared to its average volume of 436,080. The company has a market cap of $9,777.19, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.46 and a beta of 1.00. Torchmark Corporation has a twelve month low of $69.14 and a twelve month high of $86.50. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22.
Torchmark Corporation (NYSE:TMK) last posted its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.60% and a net margin of 13.80%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS. research analysts expect that Torchmark Corporation will post 4.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.70%. Torchmark Corporation’s dividend payout ratio (DPR) is currently 12.77%.
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TMK has been the subject of a number of analyst reports. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Thursday, October 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $78.00 price objective on shares of Torchmark Corporation in a research report on Sunday, October 8th. Goldman Sachs Group, Inc. (The) initiated coverage on Torchmark Corporation in a research report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 price objective for the company. Barclays PLC raised their price objective on Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Friday, August 11th. Finally, BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Torchmark Corporation presently has a consensus rating of “Hold” and a consensus price target of $78.86.
Several hedge funds have recently added to or reduced their stakes in TMK. Janus Henderson Group PLC boosted its stake in shares of Torchmark Corporation by 14,667.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,531,462 shares of the insurance provider’s stock worth $193,657,000 after buying an additional 2,514,320 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Torchmark Corporation in the 2nd quarter worth $26,997,000. BNP Paribas Arbitrage SA boosted its stake in shares of Torchmark Corporation by 159.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 475,542 shares of the insurance provider’s stock worth $36,379,000 after buying an additional 292,092 shares during the last quarter. PGGM Investments purchased a new position in shares of Torchmark Corporation in the 3rd quarter worth $23,339,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Torchmark Corporation by 11.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,331,664 shares of the insurance provider’s stock worth $101,872,000 after buying an additional 134,897 shares during the last quarter. Hedge funds and other institutional investors own 72.69% of the company’s stock.
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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