Torchmark (NYSE:TMK) announced its quarterly earnings results on Wednesday. The insurance provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.02, Briefing.com reports. Torchmark had a return on equity of 12.90% and a net margin of 16.26%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business posted $1.51 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Torchmark updated its FY 2019 guidance to $6.67-6.77 EPS and its FY19 guidance to $6.67-6.77 EPS.
TMK opened at $91.84 on Friday. 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 $9.99 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 1.79 and a beta of 0.95. Torchmark has a 52 week low of $69.68 and a 52 week high of $93.26. The firm’s fifty day moving average is $90.11.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Wednesday, July 3rd. Torchmark’s payout ratio is currently 11.26%.
In related news, VP Carol A. Mccoy sold 6,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $89.33, for a total transaction of $535,980.00. Following the sale, the vice president now owns 101,043 shares of the company’s stock, valued at $9,026,171.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bill Leavell sold 38,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $87.38, for a total value of $3,320,440.00. Following the sale, the insider now directly owns 38,000 shares in the company, valued at approximately $3,320,440. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 149,814 shares of company stock worth $13,122,756. Corporate insiders own 3.64% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in Torchmark by 10.2% in the 4th quarter. FMR LLC now owns 2,820,235 shares of the insurance provider’s stock worth $210,192,000 after buying an additional 260,809 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Torchmark by 0.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,967,608 shares of the insurance provider’s stock worth $161,245,000 after purchasing an additional 6,700 shares during the period. Geode Capital Management LLC raised its holdings in shares of Torchmark by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 1,457,051 shares of the insurance provider’s stock worth $108,420,000 after purchasing an additional 89,972 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Torchmark by 22.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,409,739 shares of the insurance provider’s stock worth $115,529,000 after purchasing an additional 262,077 shares during the period. Finally, Norges Bank purchased a new position in shares of Torchmark in the 4th quarter worth about $85,330,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.
TMK has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on Xilinx from $126.00 to $134.00 and gave the company an “overweight” rating in a research report on Thursday. Zacks Investment Research cut HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $86.50.
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, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.
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