Torchmark Co. (NYSE:TMK) VP Carol A. Mccoy sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $89.33, for a total transaction of $535,980.00. Following the transaction, the vice president now directly owns 101,043 shares in the company, valued at $9,026,171.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
TMK opened at $88.45 on Thursday. 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 Co. has a fifty-two week low of $69.68 and a fifty-two week high of $91.28. The stock has a market cap of $9.77 billion, a P/E ratio of 14.43, a PEG ratio of 1.68 and a beta of 0.97.
Torchmark (NYSE:TMK) last released its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. Torchmark had a net margin of 16.37% and a return on equity of 12.75%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm earned $1.47 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Equities research analysts predict that Torchmark Co. will post 6.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a dividend of $0.1725 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.69 dividend on an annualized basis and a yield of 0.78%. Torchmark’s dividend payout ratio (DPR) is presently 11.26%.
A number of hedge funds and other institutional investors have recently bought and sold shares of TMK. Zions Bancorporation N.A. purchased a new stake in Torchmark during the first quarter worth about $29,000. CSat Investment Advisory L.P. increased its holdings in Torchmark by 60.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 407 shares of the insurance provider’s stock worth $30,000 after buying an additional 153 shares during the last quarter. Arbor Wealth Management LLC purchased a new stake in Torchmark during the fourth quarter worth about $38,000. Captrust Financial Advisors purchased a new stake in Torchmark during the fourth quarter worth about $45,000. Finally, Quadrant Capital Group LLC increased its holdings in Torchmark by 773.4% during the first quarter. Quadrant Capital Group LLC now owns 690 shares of the insurance provider’s stock worth $55,000 after buying an additional 611 shares during the last quarter. Institutional investors and hedge funds own 76.01% of the company’s stock.
Separately, Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Torchmark currently has an average rating of “Hold” and a consensus target price of $85.75.
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Torchmark Company Profile
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, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.
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