Torchmark Co. Declares Dividend of $0.13 (TMK)
Torchmark (NYSE:TMK) announced a dividend on Tuesday, April 29th, StockRatingsNetwork reports. Shareholders of record on Monday, June 2nd will be paid a dividend of 0.1267 per share on Friday, August 1st. The ex-dividend date is Thursday, May 29th.
Several analysts have recently commented on the stock. Analysts at Bank of America downgraded shares of Torchmark from a “buy” rating to a “neutral” rating in a research note on Friday, May 16th. They now have a $87.00 price target on the stock. They noted that the move was a valuation call. On the ratings front, analysts at Deutsche Bank reiterated a “buy” rating on shares of Torchmark in a research note on Friday, April 25th. They now have a $89.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Torchmark in a research note on Wednesday, April 23rd. They now have a $80.00 price target on the stock. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Torchmark has a consensus rating of “Hold” and an average price target of $77.83.
Torchmark (NYSE:TMK) opened at 80.92 on Friday. Torchmark has a one year low of $62.51 and a one year high of $81.98. The stock has a 50-day moving average of $79.17 and a 200-day moving average of $77.24. The company has a market cap of $7.106 billion and a price-to-earnings ratio of 13.70.
Torchmark (NYSE:TMK) last released its earnings data on Tuesday, April 22nd. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, analysts predict that Torchmark will post $6.24 earnings per share for the current fiscal year.
In other Torchmark news, CEO Larry Hutchison unloaded 25,000 shares of Torchmark stock on the open market in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $80.35, for a total transaction of $2,008,750.00. Following the transaction, the chief executive officer now directly owns 264,437 shares in the company, valued at approximately $21,247,513. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Torchmark Corporation is an insurance holding company. The Company is financial services holding company whose affiliate Companies market life insurance and supplemental health insurance to middle-income Americans.
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