Insider Selling: Torchmark Corporation (TMK) Insider Sells $2,588,085.00 in Stock
Torchmark Corporation (NYSE:TMK) insider Kenneth J. Matson sold 28,500 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $90.81, for a total value of $2,588,085.00. Following the completion of the transaction, the insider now directly owns 15,056 shares of the company’s stock, valued at $1,367,235.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Torchmark Corporation (NYSE TMK) opened at $91.06 on Monday. Torchmark Corporation has a 1 year low of $72.59 and a 1 year high of $91.42. The stock has a market capitalization of $10,510.00, a PE ratio of 19.63, a P/E/G ratio of 2.46 and a beta of 1.02. 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 (NYSE:TMK) last announced its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Torchmark had a return on equity of 11.60% and a net margin of 13.80%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $1.15 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. equities analysts predict that Torchmark Corporation will post 4.8 earnings per share for the current fiscal year.
The firm also recently announced 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 yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 4th. Torchmark’s dividend payout ratio is currently 12.93%.
Several research firms have recently commented on TMK. ValuEngine raised Torchmark from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered Torchmark from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $83.00 target price on shares of Torchmark in a research report on Friday, November 10th. SunTrust Banks upped their target price on Torchmark from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, Goldman Sachs Group assumed coverage on Torchmark in a research report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Torchmark presently has an average rating of “Hold” and a consensus price target of $78.86.
A number of large investors have recently made changes to their positions in the stock. Sentry Investment Management LLC increased its holdings in shares of Torchmark by 2.0% in the second quarter. Sentry Investment Management LLC now owns 4,750 shares of the insurance provider’s stock valued at $363,000 after purchasing an additional 91 shares during the period. Thrivent Financial For Lutherans increased its holdings in shares of Torchmark by 3.0% in the second quarter. Thrivent Financial For Lutherans now owns 4,140 shares of the insurance provider’s stock valued at $317,000 after purchasing an additional 120 shares during the period. Flinton Capital Management LLC increased its holdings in shares of Torchmark by 1.4% in the second quarter. Flinton Capital Management LLC now owns 16,528 shares of the insurance provider’s stock valued at $1,264,000 after purchasing an additional 224 shares during the period. HighTower Advisors LLC increased its holdings in shares of Torchmark by 0.6% in the second quarter. HighTower Advisors LLC now owns 49,806 shares of the insurance provider’s stock valued at $3,805,000 after purchasing an additional 315 shares during the period. Finally, Norinchukin Bank The increased its holdings in shares of Torchmark by 11.6% in the second quarter. Norinchukin Bank The now owns 4,296 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 446 shares during the period. 72.46% of the stock is currently owned by institutional investors.
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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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