Torchmark (NYSE:TMK) insider Steven John Dichiaro sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $86.41, for a total transaction of $1,296,150.00. Following the completion of the sale, the insider now owns 26,379 shares of the company’s stock, valued at approximately $2,279,409.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Torchmark opened at $86.58 on Thursday, Marketbeat Ratings reports. The stock has a market capitalization of $9.83 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.37 and a beta of 0.94. Torchmark has a 12 month low of $74.36 and a 12 month high of $93.60. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.19.
Torchmark (NYSE:TMK) last posted its quarterly earnings results on Wednesday, April 18th. The insurance provider reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.02. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. Torchmark had a net margin of 35.56% and a return on equity of 10.88%. During the same quarter last year, the firm posted $1.15 EPS. equities research analysts expect that Torchmark will post 6.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Thursday, July 5th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, July 3rd. Torchmark’s dividend payout ratio is presently 13.28%.
Several research firms have recently issued reports on TMK. ValuEngine upgraded shares of Torchmark from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Morgan Stanley reduced their price target on shares of Torchmark from $84.00 to $82.00 and set an “underweight” rating on the stock in a research note on Thursday, April 5th. Wells Fargo & Co set a $78.00 price target on shares of Torchmark and gave the stock a “sell” rating in a research note on Wednesday, February 7th. Finally, UBS began coverage on shares of Torchmark in a research note on Friday, March 2nd. They issued a “sell” rating and a $83.00 price target on the stock. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Torchmark presently has a consensus rating of “Hold” and an average target price of $84.56.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. increased its position in Torchmark by 33.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,400 shares of the insurance provider’s stock valued at $218,000 after purchasing an additional 600 shares during the period. Comerica Bank increased its position in Torchmark by 1.2% during the 1st quarter. Comerica Bank now owns 50,345 shares of the insurance provider’s stock valued at $4,391,000 after purchasing an additional 613 shares during the period. M&T Bank Corp increased its position in Torchmark by 5.3% during the 1st quarter. M&T Bank Corp now owns 12,198 shares of the insurance provider’s stock valued at $1,027,000 after purchasing an additional 619 shares during the period. ING Groep NV increased its position in Torchmark by 6.2% during the 1st quarter. ING Groep NV now owns 10,841 shares of the insurance provider’s stock valued at $912,000 after purchasing an additional 632 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Torchmark by 4.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 17,158 shares of the insurance provider’s stock valued at $1,444,000 after purchasing an additional 661 shares during the period. 73.55% of the stock is currently owned by institutional investors and hedge funds.
Torchmark Company Profile
Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
Receive News & Ratings for Torchmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark and related companies with MarketBeat.com's FREE daily email newsletter.