Torchmark Co. (NYSE:TMK) Director Paul J. Zucconi sold 18,118 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $87.45, for a total transaction of $1,584,419.10. Following the transaction, the director now directly owns 27,067 shares of the company’s stock, valued at $2,367,009.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE:TMK traded up $1.00 during midday trading on Thursday, hitting $87.75. 6,246 shares of the stock traded hands, compared to its average volume of 500,564. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01. 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.
Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.59 by $0.05. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Torchmark had a net margin of 16.37% and a return on equity of 12.75%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.47 earnings per share. As a group, research analysts forecast that Torchmark Co. will post 6.69 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in Torchmark in the first quarter worth about $323,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Torchmark by 1.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 36,325 shares of the insurance provider’s stock worth $2,976,000 after buying an additional 357 shares in the last quarter. Man Group plc raised its stake in Torchmark by 50.5% in the first quarter. Man Group plc now owns 130,958 shares of the insurance provider’s stock worth $10,731,000 after buying an additional 43,964 shares in the last quarter. SEI Investments Co raised its stake in Torchmark by 31.3% in the first quarter. SEI Investments Co now owns 59,553 shares of the insurance provider’s stock worth $4,870,000 after buying an additional 14,208 shares in the last quarter. Finally, Omnia Family Wealth LLC raised its stake in Torchmark by 232.2% in the first quarter. Omnia Family Wealth LLC now owns 671 shares of the insurance provider’s stock worth $55,000 after buying an additional 469 shares in the last quarter. 76.56% of the stock is owned by institutional investors.
Separately, Zacks Investment Research downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $86.00.
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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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