Torchmark Co. (NYSE:TMK) Chairman Gary L. Coleman sold 24,500 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $88.58, for a total value of $2,170,210.00. Following the completion of the transaction, the chairman now owns 661,797 shares in the company, valued at approximately $58,621,978.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of TMK stock opened at $88.12 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.11 and a beta of 0.93. Torchmark Co. has a fifty-two week low of $74.48 and a fifty-two week high of $93.60.
Torchmark (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 25th. The insurance provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.49 by $0.02. Torchmark had a return on equity of 11.23% and a net margin of 36.13%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. sell-side analysts expect that Torchmark Co. will post 6.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, October 4th. This represents a $0.64 annualized dividend and a dividend yield of 0.73%. Torchmark’s dividend payout ratio is presently 13.28%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new position in shares of Torchmark during the 2nd quarter worth $101,000. Braun Bostich & Associates Inc. raised its holdings in shares of Torchmark by 1,298.9% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,287 shares of the insurance provider’s stock worth $105,000 after acquiring an additional 1,195 shares during the period. Signaturefd LLC purchased a new position in shares of Torchmark during the 1st quarter worth $122,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Torchmark by 22,414.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,576 shares of the insurance provider’s stock worth $128,000 after acquiring an additional 1,569 shares during the period. Finally, IBM Retirement Fund purchased a new position in shares of Torchmark during the 1st quarter worth $211,000. Institutional investors and hedge funds own 73.79% of the company’s stock.
A number of research analysts have weighed in on TMK shares. Morgan Stanley raised their price objective on Torchmark from $80.00 to $81.00 and gave the company an “underweight” rating in a report on Thursday, July 26th. Zacks Investment Research lowered Torchmark from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Finally, ValuEngine lowered Torchmark from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.25.
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.
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