Torchmark Director Unloads $319,620 in Stock (TMK)
Torchmark (NYSE:TMK) Director Charles E. Adair sold 6,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $53.27, for a total value of $319,620.00. Following the completion of the transaction, the director now directly owns 17,907 shares of the company’s stock, valued at approximately $953,906. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on TMK. Analysts at Zacks reiterated a “neutral” rating on shares of Torchmark in a research note on Monday. They now have a $56.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Torchmark in a research note on Thursday. They now have a $51.00 price target on the stock, down previously from $51.33. Finally, analysts at Sterne Agee reiterated a “neutral” rating on shares of Torchmark in a research note on Thursday, July 17th. They now have a $54.00 price target on the stock, down previously from $81.00. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.75.
Torchmark (NYSE:TMK) traded up 1.35% during mid-day trading on Monday, hitting $54.25. 664,284 shares of the company’s stock traded hands. Torchmark has a 52-week low of $45.7933 and a 52-week high of $56.49. The stock’s 50-day moving average is $54.78 and its 200-day moving average is $52.79. The company has a market cap of $7.232 billion and a price-to-earnings ratio of 13.55. Torchmark also saw a large increase in short interest in July. As of July 15th, there was short interest totalling 3,770,759 shares, an increase of 61.6% from the June 30th total of 2,333,427 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 522,830 shares, the days-to-cover ratio is currently 7.2 days.
Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.98 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.03 by $0.05. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, analysts predict that Torchmark will post $4.12 earnings per share for the current fiscal year.
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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