Torchmark Corporation (NYSE:TMK) EVP W Michael Pressley sold 52,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $83.93, for a total transaction of $4,406,325.00. Following the sale, the executive vice president now directly owns 105,948 shares of the company’s stock, valued at approximately $8,892,215.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Torchmark Corporation (NYSE TMK) traded down $0.24 during trading hours on Friday, hitting $84.26. 527,500 shares of the company were exchanged, compared to its average volume of 441,578. Torchmark Corporation has a fifty-two week low of $69.09 and a fifty-two week 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. The firm has a market capitalization of $9,727.56, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.45 and a beta of 1.00.
Torchmark Corporation (NYSE:TMK) last issued its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Torchmark Corporation had a net margin of 13.80% and a return on equity of 11.60%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business posted $1.15 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. equities analysts predict that Torchmark Corporation will post 4.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, October 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.71%. Torchmark Corporation’s payout ratio is 12.77%.
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A number of hedge funds have recently modified their holdings of TMK. Fuller & Thaler Asset Management Inc. increased its stake in Torchmark Corporation by 63.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock valued at $144,000 after buying an additional 700 shares during the last quarter. Assetmark Inc. increased its stake in Torchmark Corporation by 7,975.0% in the 3rd quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock valued at $181,000 after buying an additional 2,233 shares during the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in Torchmark Corporation in the 3rd quarter valued at $205,000. Twin Tree Management LP acquired a new stake in Torchmark Corporation in the 2nd quarter valued at $213,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Torchmark Corporation by 21.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock valued at $225,000 after buying an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 72.19% of the company’s stock.
Several analysts have recently commented on TMK shares. Zacks Investment Research cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $78.00 price target on shares of Torchmark Corporation in a research note on Sunday, October 8th. BidaskClub cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. SunTrust Banks, Inc. increased their price target on shares of Torchmark Corporation from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of Torchmark Corporation in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $78.86.
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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