Insider Selling: Torchmark Corporation (NYSE:TMK) Chairman Sells 37,500 Shares of Stock

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%.

TRADEMARK VIOLATION NOTICE: This story was first published by Stock Observer and is the property of of Stock Observer. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at https://www.thestockobserver.com/2017/08/12/gary-l-coleman-sells-37500-shares-of-torchmark-corporation-nysetmk-stock-updated.html.

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.

Insider Buying and Selling by Quarter for Torchmark Corporation (NYSE:TMK)

Receive News & Ratings for Torchmark Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply