Vern D. Herbel Sells 25,000 Shares of Torchmark Corporation (TMK) Stock
Torchmark Corporation (NYSE:TMK) EVP Vern D. Herbel sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $83.89, for a total value of $2,097,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Torchmark Corporation (NYSE:TMK) opened at $85.37 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.06 and a current ratio of 0.06. Torchmark Corporation has a 12-month low of $69.14 and a 12-month high of $86.50. The company has a market capitalization of $9,833.76, a P/E ratio of 18.01, a P/E/G ratio of 2.47 and a beta of 1.00.
Torchmark Corporation (NYSE:TMK) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Torchmark Corporation had a return on equity of 11.60% and a net margin of 13.80%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. analysts predict that Torchmark Corporation will post 4.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, January 4th. Torchmark Corporation’s payout ratio is 12.77%.
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A number of analysts have recently commented on the company. BidaskClub cut Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Zacks Investment Research cut Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Finally, SunTrust Banks, Inc. boosted their price objective on Torchmark Corporation from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $78.86.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its stake in Torchmark Corporation by 4.3% during the third quarter. California Public Employees Retirement System now owns 386,476 shares of the insurance provider’s stock worth $30,953,000 after buying an additional 15,942 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Torchmark Corporation by 55.6% during the third quarter. Cubist Systematic Strategies LLC now owns 8,557 shares of the insurance provider’s stock worth $685,000 after buying an additional 3,056 shares during the last quarter. Vident Investment Advisory LLC boosted its stake in Torchmark Corporation by 20.1% during the third quarter. Vident Investment Advisory LLC now owns 39,610 shares of the insurance provider’s stock worth $3,173,000 after buying an additional 6,633 shares during the last quarter. Prospector Partners LLC boosted its stake in Torchmark Corporation by 3.5% during the third quarter. Prospector Partners LLC now owns 149,700 shares of the insurance provider’s stock worth $11,989,000 after buying an additional 5,000 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Torchmark Corporation by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 177,891 shares of the insurance provider’s stock worth $14,245,000 after buying an additional 625 shares during the last quarter. 72.69% of the stock is currently owned by institutional investors.
Torchmark Corporation Company Profile
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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