Torchmark Corp. (TMK) Sees Strong Trading Volume
Shares of Torchmark Corp. (NYSE:TMK) saw an uptick in trading volume on Tuesday . 781,901 shares were traded during mid-day trading, an increase of 16% from the previous session’s volume of 676,677 shares.The stock last traded at $62.08 and had previously closed at $61.46.
A number of brokerages have recently commented on TMK. Deutsche Bank AG reiterated a “hold” rating and issued a $55.00 price target on shares of Torchmark Corp. in a research note on Tuesday, March 15th. Zacks Investment Research cut Torchmark Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup Inc. increased their price target on Torchmark Corp. from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Bank of America Corp. upgraded Torchmark Corp. from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 29th. Finally, Morgan Stanley cut Torchmark Corp. to a “sell” rating in a research note on Tuesday, April 26th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $57.60.
The firm has a market capitalization of $7.49 billion and a PE ratio of 14.73. The firm has a 50 day moving average price of $60.63 and a 200 day moving average price of $56.21.
Torchmark Corp. (NYSE:TMK) last posted its quarterly earnings results on Tuesday, April 26th. The company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.04. During the same quarter in the previous year, the firm posted $1.04 EPS. Analysts predict that Torchmark Corp. will post $4.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, June 29th.
In other news, insider Michael Shane Henrie sold 500 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $60.04, for a total transaction of $30,020.00. Following the sale, the insider now owns 500 shares in the company, valued at $30,020. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP W Michael Pressley sold 105,000 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $58.75, for a total transaction of $6,168,750.00. Following the sale, the executive vice president now owns 100,948 shares in the company, valued at approximately $5,930,695. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in Torchmark Corp. by 11.7% in the fourth quarter. Victory Capital Management Inc. now owns 18,525 shares of the company’s stock worth $1,059,000 after buying an additional 1,945 shares during the last quarter. Korea Investment CORP boosted its stake in Torchmark Corp. by 53.3% in the fourth quarter. Korea Investment CORP now owns 21,000 shares of the company’s stock worth $1,200,000 after buying an additional 7,300 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its stake in Torchmark Corp. by 7.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 20,953 shares of the company’s stock worth $1,223,000 after buying an additional 1,531 shares during the last quarter. Trexquant Investment LP purchased a new stake in Torchmark Corp. during the fourth quarter worth approximately $1,246,000. Finally, Stephens Inc. AR boosted its stake in Torchmark Corp. by 0.5% in the fourth quarter. Stephens Inc. AR now owns 22,918 shares of the company’s stock worth $1,310,000 after buying an additional 115 shares during the last quarter.
Torchmark Corporation is an insurance holding company. The Company’s segments include life insurance, health insurance, Medicare Part D, annuities and investment. The life insurance segment offers whole-life insurance, term life insurance and other life insurance products. The health insurance segment offers supplemental limited-benefit health insurance products primarily for cancer and accident plans.
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