Torchmark Corporation (TMK) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust reduced its stake in shares of Torchmark Corporation (NYSE:TMK) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,776 shares of the insurance provider’s stock after selling 16 shares during the period. FineMark National Bank & Trust’s holdings in Torchmark Corporation were worth $365,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TMK. Bronfman E.L. Rothschild L.P. increased its position in shares of Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock valued at $187,000 after buying an additional 69 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Torchmark Corporation by 539.3% in the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock valued at $193,000 after buying an additional 2,114 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Torchmark Corporation during the first quarter valued at about $205,000. Aull & Monroe Investment Management Corp acquired a new position in shares of Torchmark Corporation during the first quarter valued at about $206,000. Finally, Dai Ichi Life Insurance Company Ltd acquired a new position in shares of Torchmark Corporation during the first quarter valued at about $206,000. Hedge funds and other institutional investors own 74.84% of the company’s stock.

Torchmark Corporation (NYSE:TMK) opened at 76.61 on Friday. Torchmark Corporation has a 12-month low of $62.41 and a 12-month high of $79.90. The firm’s 50-day moving average price is $78.21 and its 200 day moving average price is $76.81. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 16.48 and a beta of 0.98.

Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.02. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 earnings per share. On average, analysts expect that Torchmark Corporation will post $4.75 earnings per share for the current year.

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Several equities research analysts have recently commented on the company. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Monday, April 24th. ValuEngine raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $75.00 target price on shares of Torchmark Corporation in a research note on Friday, May 26th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Torchmark Corporation has an average rating of “Hold” and a consensus target price of $73.33.

In other news, EVP Vern D. Herbel sold 27,500 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $78.62, for a total transaction of $2,162,050.00. Following the completion of the transaction, the executive vice president now directly owns 56,943 shares of the company’s stock, valued at $4,476,858.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gary L. Coleman sold 37,500 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $78.57, for a total transaction of $2,946,375.00. Following the transaction, the chairman now directly owns 666,875 shares of the company’s stock, valued at $52,396,368.75. The disclosure for this sale can be found here. Insiders sold 142,321 shares of company stock valued at $11,175,453 over the last three months. 3.79% of the stock is currently owned by insiders.

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.

Institutional Ownership by Quarter for Torchmark Corporation (NYSE:TMK)

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