Torchmark Corporation (NYSE:TMK) VP Michael Clay Majors sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $84.71, for a total value of $635,325.00. Following the sale, the vice president now directly owns 10,760 shares in the company, valued at approximately $911,479.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Michael Clay Majors also recently made the following trade(s):
- On Friday, November 3rd, Michael Clay Majors sold 3,000 shares of Torchmark Corporation stock. The stock was sold at an average price of $85.44, for a total transaction of $256,320.00.
Shares of Torchmark Corporation (TMK) opened at $84.26 on Friday. Torchmark Corporation has a 52 week low of $69.09 and a 52 week high of $86.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $9,727.56, a P/E ratio of 17.81, a PEG ratio of 2.45 and a beta of 1.00.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a net margin of 13.80% and a return on equity of 11.60%. Torchmark Corporation’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 earnings per share. analysts anticipate that Torchmark Corporation will post 4.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th were issued a $0.15 dividend. The ex-dividend date was Thursday, October 5th. This represents a $0.60 annualized dividend and a yield of 0.71%. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.77%.
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TMK has been the topic of several research analyst reports. BidaskClub cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $83.00 price objective on shares of Torchmark Corporation in a report on Friday. Zacks Investment Research cut shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 11th. SunTrust Banks, Inc. boosted their target price on shares of Torchmark Corporation from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Finally, Barclays PLC boosted their target price on shares of Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a research report on Friday, August 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $78.86.
Several large investors have recently modified their holdings of the stock. Twin Capital Management Inc. raised its holdings in shares of Torchmark Corporation by 27.0% during the third quarter. Twin Capital Management Inc. now owns 28,480 shares of the insurance provider’s stock worth $2,281,000 after acquiring an additional 6,048 shares during the period. Citadel Advisors LLC raised its holdings in shares of Torchmark Corporation by 13.7% during the third quarter. Citadel Advisors LLC now owns 188,665 shares of the insurance provider’s stock worth $15,110,000 after acquiring an additional 22,754 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Torchmark Corporation by 8.8% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,798 shares of the insurance provider’s stock worth $705,000 after acquiring an additional 715 shares during the period. Legal & General Group Plc grew its position in Torchmark Corporation by 6.5% in the third quarter. Legal & General Group Plc now owns 632,911 shares of the insurance provider’s stock valued at $50,690,000 after purchasing an additional 38,361 shares in the last quarter. Finally, Norinchukin Bank The grew its position in Torchmark Corporation by 546.4% in the third quarter. Norinchukin Bank The now owns 27,769 shares of the insurance provider’s stock valued at $2,224,000 after purchasing an additional 23,473 shares in the last quarter. Institutional investors and hedge funds own 72.19% 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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