Insider Selling: Torchmark Corporation (TMK) Insider Sells 13,000 Shares of Stock
Torchmark Corporation (NYSE:TMK) insider Steven John Dichiaro sold 13,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $79.02, for a total value of $1,027,260.00. Following the sale, the insider now directly owns 21,360 shares in the company, valued at approximately $1,687,867.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Steven John Dichiaro also recently made the following trade(s):
- On Wednesday, May 31st, Steven John Dichiaro sold 4,500 shares of Torchmark Corporation stock. The stock was sold at an average price of $75.08, for a total value of $337,860.00.
Torchmark Corporation (NYSE TMK) traded down 0.14% during mid-day trading on Wednesday, hitting $78.75. The company’s stock had a trading volume of 351,257 shares. Torchmark Corporation has a 52-week low of $61.92 and a 52-week high of $79.90. The firm has a 50 day moving average of $78.11 and a 200-day moving average of $76.78. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 16.94 and a beta of 0.98.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business earned $1.11 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Torchmark Corporation will post $4.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Wednesday, July 5th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.76%. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
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Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Torchmark Corporation during the fourth quarter valued at $5,650,000. Teachers Advisors LLC raised its position in shares of Torchmark Corporation by 5.5% in the fourth quarter. Teachers Advisors LLC now owns 146,733 shares of the insurance provider’s stock valued at $10,823,000 after buying an additional 7,712 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Torchmark Corporation by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 101,720 shares of the insurance provider’s stock valued at $7,836,000 after buying an additional 2,202 shares in the last quarter. Creative Planning raised its position in shares of Torchmark Corporation by 0.3% in the first quarter. Creative Planning now owns 7,594 shares of the insurance provider’s stock valued at $585,000 after buying an additional 25 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of Torchmark Corporation by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 36,461 shares of the insurance provider’s stock valued at $2,808,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 74.84% of the company’s stock.
Several analysts recently commented on TMK shares. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock 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 price target 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 assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price 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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