Insider Selling: Torchmark CEO Sells 37,500 Shares of Stock (TMK)
Torchmark (NYSE:TMK) CEO Larry M. Hutchison unloaded 37,500 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $53.83, for a total value of $2,018,625.00. Following the sale, the chief executive officer now directly owns 396,655 shares in the company, valued at approximately $21,351,939. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Torchmark presently has a consensus rating of “Hold” and a consensus price target of $56.75.
Shares of Torchmark (NYSE:TMK) traded down 0.11% on Tuesday, hitting $53.80. The stock had a trading volume of 368,308 shares. Torchmark has a 52-week low of $45.7933 and a 52-week high of $56.49. The stock has a 50-day moving average of $54.14 and a 200-day moving average of $53.03. The company has a market cap of $7.026 billion and a P/E ratio of 13.60.
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. Analysts expect that Torchmark will post $4.11 EPS 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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