Torchmark Corp. (NYSE:TMK) insider John Henry Rogers, Jr. sold 875 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $65.03, for a total value of $56,901.25. Following the transaction, the insider now owns 875 shares in the company, valued at approximately $56,901.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Torchmark Corp. (NYSE:TMK) opened at 63.48 on Wednesday. Torchmark Corp. has a 52 week low of $48.47 and a 52 week high of $65.60. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 14.60 and a beta of 1.08. The stock’s 50 day moving average price is $63.68 and its 200-day moving average price is $60.03.
Torchmark Corp. (NYSE:TMK) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. Torchmark Corp. had a return on equity of 12.19% and a net margin of 13.85%. The business had revenue of $992 million for the quarter, compared to the consensus estimate of $979.43 million. During the same quarter in the prior year, the business posted $1.05 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts anticipate that Torchmark Corp. will post $4.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.88%. Torchmark Corp.’s payout ratio is currently 12.84%.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Torchmark Corp. from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, June 29th. RBC Capital Markets restated an “underperform” rating and set a $55.00 price target (up previously from $53.00) on shares of Torchmark Corp. in a research note on Monday, August 1st. Evercore ISI assumed coverage on Torchmark Corp. in a research note on Wednesday, July 6th. They set a “hold” rating and a $63.00 price target on the stock. Bank of America Corp. upgraded Torchmark Corp. from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 29th. Finally, Wells Fargo & Co. reiterated an “underperform” rating on shares of Torchmark Corp. in a research note on Friday, September 23rd. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Torchmark Corp. has a consensus rating of “Hold” and an average target price of $58.36.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMK. M&T Bank Corp increased its position in Torchmark Corp. by 75.4% in the first quarter. M&T Bank Corp now owns 10,112 shares of the company’s stock worth $548,000 after buying an additional 4,346 shares during the last quarter. Bessemer Group Inc. increased its position in Torchmark Corp. by 617.8% in the first quarter. Bessemer Group Inc. now owns 3,589 shares of the company’s stock worth $194,000 after buying an additional 3,089 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Torchmark Corp. during the first quarter worth about $84,794,000. BlackRock Institutional Trust Company N.A. increased its position in Torchmark Corp. by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,326,787 shares of the company’s stock worth $180,179,000 after buying an additional 86,539 shares in the last quarter. Finally, FDO Partners LLC purchased a new position in Torchmark Corp. during the first quarter worth about $1,061,000. Institutional investors and hedge funds own 75.52% of the company’s stock.
About Torchmark Corp.
Torchmark Corporation is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance.
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