Torchmark Corporation (NYSE:TMK) Chairman Gary L. Coleman sold 37,500 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $78.57, for a total value of $2,946,375.00. Following the completion of the transaction, the chairman now directly owns 666,875 shares in the company, valued at approximately $52,396,368.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Torchmark Corporation (NYSE TMK) traded down 0.37% during midday trading on Friday, hitting $78.16. The company’s stock had a trading volume of 358,671 shares. The firm has a 50-day moving average of $77.94 and a 200 day moving average of $76.68. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 16.81 and a beta of 0.98. Torchmark Corporation has a 12-month low of $61.39 and a 12-month high of $79.90.
Torchmark Corporation (NYSE:TMK) last released its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.02. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $1.11 EPS. Torchmark Corporation’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Torchmark Corporation will post $4.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.60 annualized dividend and a yield of 0.77%. Torchmark Corporation’s payout ratio is 12.88%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its position in Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock valued at $187,000 after buying an additional 69 shares during the last quarter. Global X Management Co. LLC boosted its position in Torchmark Corporation by 539.3% in the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock valued at $193,000 after buying an additional 2,114 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Torchmark Corporation during the first quarter valued at approximately $205,000. Dai Ichi Life Insurance Company Ltd bought a new position in Torchmark Corporation during the first quarter valued at approximately $206,000. Finally, Aull & Monroe Investment Management Corp bought a new position in Torchmark Corporation during the first quarter valued at approximately $206,000. 74.74% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on TMK shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $75.00 price objective on shares of Torchmark Corporation in a research report on Friday, April 21st. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Monday, April 24th. ValuEngine downgraded Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Finally, BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $73.33.
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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