Torchmark Corporation (TMK) to Issue $0.15 Quarterly Dividend
Torchmark Corporation (NYSE:TMK) declared a quarterly dividend on Monday, November 13th, RTT News reports. Investors of record on Friday, January 5th will be paid a dividend of 0.15 per share by the insurance provider on Thursday, February 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.71%.
Torchmark Corporation has increased its dividend payment by an average of 8.0% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Torchmark Corporation has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Torchmark Corporation to earn $5.14 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 11.7%.
Torchmark Corporation (NYSE TMK) opened at $84.69 on Tuesday. The stock has a market cap of $9,727.55, a P/E ratio of 17.81, a P/E/G ratio of 2.45 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.06 and a current ratio of 0.06. Torchmark Corporation has a 1-year low of $69.14 and a 1-year high of $86.50.
Torchmark Corporation (NYSE:TMK) last issued its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a net margin of 13.80% and a return on equity of 11.60%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 earnings per share. equities analysts forecast that Torchmark Corporation will post 4.8 EPS for the current year.
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In related news, Chairman Gary L. Coleman sold 37,500 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $83.28, for a total transaction of $3,123,000.00. Following the transaction, the chairman now directly owns 666,875 shares in the company, valued at $55,537,350. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael Clay Majors sold 7,500 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $84.71, for a total transaction of $635,325.00. Following the transaction, the vice president now owns 10,760 shares in the company, valued at $911,479.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,085 shares of company stock worth $11,604,164. 3.79% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on TMK shares. BidaskClub lowered shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 price target on the stock in a research note on Friday, July 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $78.00 price target on shares of Torchmark Corporation in a research note on Thursday, August 3rd. Finally, Barclays PLC lifted their price target on shares of Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $78.86.
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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