Torchmark Co. (NYSE:TMK) CFO Frank M. Svoboda sold 22,500 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $86.80, for a total transaction of $1,953,000.00. Following the completion of the sale, the chief financial officer now directly owns 129,033 shares in the company, valued at $11,200,064.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of NYSE:TMK opened at $86.75 on Thursday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. Torchmark Co. has a one year low of $69.68 and a one year high of $91.28. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01.
Torchmark (NYSE:TMK) last issued its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. Torchmark had a net margin of 16.37% and a return on equity of 12.75%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $1.47 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts forecast that Torchmark Co. will post 6.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.69 annualized dividend and a yield of 0.80%. Torchmark’s dividend payout ratio (DPR) is presently 11.26%.
Separately, Zacks Investment Research raised shares of Torchmark from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $86.00.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc lifted its position in Torchmark by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 12,664,337 shares of the insurance provider’s stock worth $1,097,870,000 after buying an additional 210,422 shares in the last quarter. FMR LLC raised its holdings in shares of Torchmark by 10.2% in the 4th quarter. FMR LLC now owns 2,820,235 shares of the insurance provider’s stock valued at $210,192,000 after purchasing an additional 260,809 shares during the period. Wellington Management Group LLP raised its holdings in shares of Torchmark by 8.1% in the 1st quarter. Wellington Management Group LLP now owns 1,977,552 shares of the insurance provider’s stock valued at $162,059,000 after purchasing an additional 147,446 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Torchmark by 0.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,967,608 shares of the insurance provider’s stock valued at $161,245,000 after purchasing an additional 6,700 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Torchmark by 18.1% in the 1st quarter. Geode Capital Management LLC now owns 1,720,552 shares of the insurance provider’s stock valued at $140,790,000 after purchasing an additional 263,501 shares during the period. 76.56% 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, 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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