Torchmark Corporation (NYSE:TMK) Director Charles E. Adair sold 9,244 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $78.89, for a total value of $729,259.16. Following the completion of the sale, the director now directly owns 20,613 shares in the company, valued at approximately $1,626,159.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Torchmark Corporation (NYSE TMK) traded down 0.14% during mid-day trading on Wednesday, hitting $78.75. The company’s stock had a trading volume of 351,257 shares. The company has a 50-day moving average of $78.11 and a 200 day moving average of $76.78. Torchmark Corporation has a 1-year low of $61.92 and a 1-year high of $79.90. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 16.94 and a beta of 0.98.

Torchmark Corporation (NYSE:TMK) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.17 by $0.02. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $1.11 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that Torchmark Corporation will post $4.75 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Wednesday, July 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, June 30th. Torchmark Corporation’s payout ratio is 12.88%.

COPYRIGHT VIOLATION WARNING: “Torchmark Corporation (TMK) Director Sells $729,259.16 in Stock” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was copied illegally and reposted in violation of U.S. & international copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/08/16/torchmark-corporation-tmk-director-sells-729259-16-in-stock.html.

Several institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC increased its position in Torchmark Corporation by 236.7% in the second quarter. Verition Fund Management LLC now owns 9,461 shares of the insurance provider’s stock valued at $724,000 after buying an additional 6,651 shares during the last quarter. Nomura Holdings Inc. increased its position in Torchmark Corporation by 172.3% in the second quarter. Nomura Holdings Inc. now owns 12,834 shares of the insurance provider’s stock valued at $982,000 after buying an additional 8,120 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Torchmark Corporation by 10.7% in the second quarter. The Manufacturers Life Insurance Company now owns 128,965 shares of the insurance provider’s stock valued at $9,866,000 after buying an additional 12,427 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Torchmark Corporation by 57.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 238,411 shares of the insurance provider’s stock valued at $18,238,000 after buying an additional 87,311 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Torchmark Corporation during the second quarter valued at approximately $421,000. 74.84% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on TMK. Barclays PLC raised their target price on Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a report on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $78.00 target price on shares of Torchmark Corporation in a report on Thursday, August 3rd. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research raised Torchmark Corporation from a “sell” rating to a “hold” rating and set a $88.00 target price on the stock in a report on Friday, July 28th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $73.33.

Torchmark Corporation Company Profile

Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.

Insider Buying and Selling by Quarter for Torchmark Corporation (NYSE:TMK)

Receive News & Ratings for Torchmark Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark Corporation and related companies with MarketBeat.com's FREE daily email newsletter.