Torchmark CEO Sells $2,018,625 in Stock (TMK)
Torchmark (NYSE:TMK) CEO Larry M. Hutchison sold 37,500 shares of the stock on the open market in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $53.83, for a total transaction of $2,018,625.00. Following the transaction, the chief executive officer now directly owns 396,655 shares in the company, valued at approximately $21,351,939. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Torchmark (NYSE:TMK) traded up 0.44% during mid-day trading on Thursday, hitting $54.27. The stock had a trading volume of 107,023 shares. Torchmark has a 1-year low of $45.7933 and a 1-year high of $56.49. The stock has a 50-day moving average of $54.10 and a 200-day moving average of $53.05. The company has a market cap of $7.087 billion and a P/E ratio of 13.65.
Torchmark (NYSE:TMK) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by $0.01. Analysts expect that Torchmark will post $4.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.1267 per share. This represents a $0.51 annualized dividend and a dividend yield of 0.94%.
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 given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price 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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