Torchmark Corporation (NYSE:TMK) insider John Henry Rogers, Jr. sold 1,875 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $79.25, for a total value of $148,593.75. Following the completion of the transaction, the insider now owns 1,875 shares of the company’s stock, valued at $148,593.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Torchmark Corporation (NYSE TMK) traded down 0.31% on Friday, hitting $76.61. The stock had a trading volume of 491,037 shares. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 16.48 and a beta of 0.98. Torchmark Corporation has a one year low of $62.41 and a one year high of $79.90. The company’s 50-day moving average price is $78.21 and its 200 day moving average price is $76.81.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $1.11 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts expect that Torchmark Corporation will post $4.75 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in TMK. Bronfman E.L. Rothschild L.P. boosted its stake 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 worth $187,000 after buying an additional 69 shares during the period. Global X Management Co. LLC boosted its stake 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 worth $193,000 after buying an additional 2,114 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Torchmark Corporation during the first quarter worth $205,000. Aull & Monroe Investment Management Corp acquired a new stake in shares of Torchmark Corporation during the first quarter worth $206,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new position in shares of Torchmark Corporation during the first quarter worth approximately $206,000. 74.84% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on TMK. ValuEngine lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. BidaskClub lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Torchmark Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 price objective on shares of Torchmark Corporation in a research report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $73.33.
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.
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