Torchmark Corporation (NYSE:TMK) EVP Sells $2,162,050.00 in Stock
Torchmark Corporation (NYSE:TMK) EVP Vern D. Herbel sold 27,500 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $78.62, for a total value of $2,162,050.00. Following the transaction, the executive vice president now directly owns 56,943 shares of the company’s stock, valued at $4,476,858.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Torchmark Corporation (NYSE TMK) traded down 0.10% during trading on Friday, reaching $78.37. The company had a trading volume of 119,214 shares. The firm has a 50-day moving average price of $77.87 and a 200-day moving average price of $76.65. Torchmark Corporation has a 52-week low of $60.92 and a 52-week high of $79.90. The company has a market capitalization of $9.12 billion, a P/E ratio of 16.86 and a beta of 0.98.
Torchmark Corporation (NYSE:TMK) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.17 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $1.11 EPS. On average, analysts predict that Torchmark Corporation will post $4.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.76%. Torchmark Corporation’s payout ratio is currently 12.88%.
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A number of brokerages have recently commented on TMK. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $78.00 price objective on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Zacks Investment Research raised Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 price objective for the company in a research report on Friday, July 28th. Finally, Barclays PLC boosted their price objective on Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a research report on Friday. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $73.33.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Torchmark Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock valued at $918,194,000 after buying an additional 458,913 shares during the last quarter. BlackRock Inc. increased its stake in shares of Torchmark Corporation by 2,764.7% in the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock valued at $576,118,000 after buying an additional 7,217,094 shares during the last quarter. State Street Corp increased its stake in shares of Torchmark Corporation by 2.6% in the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock valued at $450,848,000 after buying an additional 150,546 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Torchmark Corporation by 1.2% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,023,143 shares of the insurance provider’s stock valued at $156,033,000 after buying an additional 23,100 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Torchmark Corporation by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,196,767 shares of the insurance provider’s stock valued at $92,199,000 after buying an additional 127,185 shares during the last quarter. Institutional investors and hedge funds own 74.74% of the company’s stock.
About Torchmark Corporation
Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.
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