Torchmark Corporation (NYSE:TMK) EVP W Michael Pressley sold 52,500 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $83.93, for a total transaction of $4,406,325.00. Following the completion of the sale, the executive vice president now directly owns 105,948 shares of the company’s stock, valued at $8,892,215.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Torchmark Corporation (TMK) opened at $84.26 on Friday. The firm has a market capitalization of $9,755.25, a PE ratio of 17.86, a PEG ratio of 2.45 and a beta of 1.00. Torchmark Corporation has a 52 week low of $69.09 and a 52 week high of $86.50. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22.
Torchmark Corporation (NYSE:TMK) last released its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, topping the 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $1.15 EPS. Torchmark Corporation’s revenue for the quarter was up 5.7% on a year-over-year basis. sell-side analysts anticipate that Torchmark Corporation will post 4.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, October 5th. Torchmark Corporation’s payout ratio is 12.77%.
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Several institutional investors and hedge funds have recently made changes to their positions in TMK. Janus Henderson Group PLC increased its holdings in shares of Torchmark Corporation by 14,667.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,531,462 shares of the insurance provider’s stock valued at $193,657,000 after acquiring an additional 2,514,320 shares during the last quarter. Renaissance Technologies LLC bought a new position in Torchmark Corporation during the 2nd quarter worth $26,997,000. BNP Paribas Arbitrage SA grew its stake in Torchmark Corporation by 159.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 475,542 shares of the insurance provider’s stock worth $36,379,000 after buying an additional 292,092 shares during the last quarter. PGGM Investments acquired a new position in Torchmark Corporation during the 3rd quarter worth $23,339,000. Finally, Goldman Sachs Group Inc. boosted its position in Torchmark Corporation by 11.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,331,664 shares of the insurance provider’s stock worth $101,872,000 after acquiring an additional 134,897 shares during the period. 72.19% of the stock is currently owned by institutional investors.
Several equities analysts have commented on TMK shares. Zacks Investment Research lowered shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $78.00 target price on shares of Torchmark Corporation in a report on Sunday, October 8th. BidaskClub lowered shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. SunTrust Banks, Inc. raised their price target on shares of Torchmark Corporation from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, Goldman Sachs Group, Inc. (The) started coverage on shares of Torchmark Corporation in a research report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Torchmark Corporation presently has a consensus rating of “Hold” and a consensus target price of $78.86.
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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