Frank M. Svoboda Sells 12,375 Shares of Torchmark Co. (TMK) Stock
Torchmark Co. (NYSE:TMK) CFO Frank M. Svoboda sold 12,375 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $86.88, for a total transaction of $1,075,140.00. Following the completion of the sale, the chief financial officer now owns 105,828 shares of the company’s stock, valued at approximately $9,194,336.64. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Torchmark Co. (NYSE TMK) opened at $86.38 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $9,927.41, a P/E ratio of 18.09, a P/E/G ratio of 2.01 and a beta of 0.97. Torchmark Co. has a 12-month low of $73.99 and a 12-month high of $93.60.
Torchmark (NYSE:TMK) last issued its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.01. Torchmark had a net margin of 34.99% and a return on equity of 10.81%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. research analysts forecast that Torchmark Co. will post 6.03 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the business. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in Torchmark in the 4th quarter worth approximately $149,000. Fuller & Thaler Asset Management Inc. lifted its position in Torchmark by 63.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock worth $144,000 after buying an additional 700 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Torchmark in the 4th quarter worth approximately $173,000. Invictus RG purchased a new stake in Torchmark in the 3rd quarter worth approximately $165,000. Finally, YCG LLC purchased a new stake in Torchmark in the 4th quarter worth approximately $204,000. Institutional investors own 74.74% of the company’s stock.
TMK has been the subject of several research analyst reports. ValuEngine upgraded shares of Torchmark from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Thursday, January 11th. UBS Group initiated coverage on shares of Torchmark in a research report on Friday, March 2nd. They issued a “sell” rating and a $83.00 price target for the company. Finally, Wells Fargo & Co set a $78.00 price target on shares of Torchmark and gave the company a “sell” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $83.14.
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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