Insider Selling: Spencer H. Stone Sells 2,500 Shares of Torchmark Stock (TMK)
Torchmark (NYSE:TMK) Insider Spencer H. Stone unloaded 2,500 shares of the stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $54.98, for a total transaction of $137,450.00. Following the sale, the insider now directly owns 40,648 shares of the company’s stock, valued at approximately $2,234,827. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Torchmark (NYSE:TMK) traded down 0.69% during mid-day trading on Friday, hitting $54.55. 777,484 shares of the company’s stock traded hands. Torchmark has a 52-week low of $45.8267 and a 52-week high of $56.49. The stock has a 50-day moving average of $54.05 and a 200-day moving average of $53.30. The company has a market cap of $7.124 billion and a price-to-earnings ratio of 13.87.
Torchmark (NYSE:TMK) last announced its earnings results on Wednesday, August 20th. The company reported $1.02 EPS for the quarter, missing the Thomson Reuters 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. Investors 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 0.93%.
TMK has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus 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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