Torchmark Insider Unloads $1,605,000 in Stock (TMK)
Torchmark (NYSE:TMK) Insider Roger C. Smith sold 30,000 shares of Torchmark stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $53.50, for a total transaction of $1,605,000.00. Following the sale, the insider now directly owns 47,773 shares in the company, valued at approximately $2,555,856. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Torchmark (NYSE:TMK) traded down 0.54% during mid-day trading on Friday, hitting $53.26. 290,474 shares of the company’s stock traded hands. Torchmark has a one year low of $45.7933 and a one year high of $56.49. The stock’s 50-day moving average is $54.22 and its 200-day moving average is $52.92. The company has a market cap of $6.955 billion and a P/E ratio of 13.53.
Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.98 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.03 by $0.05. During the same quarter last year, the company posted $0.96 earnings per share. On average, analysts predict that Torchmark will post $4.11 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on TMK shares. Analysts at Zacks reiterated a “neutral” rating on shares of Torchmark in a research note on Monday, July 28th. 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, July 24th. 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 research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Torchmark currently has an average rating of “Hold” and an average price target of $56.75.
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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