Torchmark Co. (NYSE:TMK) CFO Frank M. Svoboda sold 12,375 shares of the stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $87.70, for a total transaction of $1,085,287.50. Following the sale, the chief financial officer now directly owns 105,828 shares in the company, valued at approximately $9,281,115.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of TMK traded down $0.57 during mid-day trading on Friday, hitting $86.92. 567,936 shares of the company’s stock were exchanged, compared to its average volume of 660,440. The stock has a market capitalization of $9.85 billion, a PE ratio of 18.03, a P/E/G ratio of 1.04 and a beta of 0.86. Torchmark Co. has a fifty-two week low of $80.34 and a fifty-two week high of $93.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.05 and a current ratio of 0.05.
Torchmark (NYSE:TMK) last issued its earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.06. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Torchmark had a net margin of 36.42% and a return on equity of 11.53%. On average, sell-side analysts predict that Torchmark Co. will post 6.13 earnings per share for the current year.
Several analysts have recently issued reports on TMK shares. Zacks Investment Research cut shares of Torchmark from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Morgan Stanley increased their price target on shares of Torchmark from $80.00 to $81.00 and gave the stock an “underweight” rating in a research report on Thursday, July 26th. Goldman Sachs Group cut shares of Torchmark from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $92.00 to $78.00 in a research report on Monday, September 10th. Finally, SunTrust Banks reduced their price target on shares of Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $85.25.
A number of large investors have recently modified their holdings of TMK. Royal Bank of Canada raised its holdings in Torchmark by 25.3% in the first quarter. Royal Bank of Canada now owns 52,743 shares of the insurance provider’s stock valued at $4,440,000 after acquiring an additional 10,653 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Torchmark by 36.6% in the second quarter. IFM Investors Pty Ltd now owns 6,299 shares of the insurance provider’s stock valued at $513,000 after acquiring an additional 1,687 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Torchmark by 14.0% in the second quarter. State of Alaska Department of Revenue now owns 36,931 shares of the insurance provider’s stock valued at $3,004,000 after acquiring an additional 4,540 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Torchmark by 16.2% in the second quarter. Xact Kapitalforvaltning AB now owns 35,206 shares of the insurance provider’s stock valued at $2,866,000 after acquiring an additional 4,912 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in Torchmark in the second quarter valued at approximately $318,000. 74.27% of the stock is currently owned by hedge funds and other institutional investors.
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Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
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