Torchmark Corporation (TMK) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Torchmark Corporation (NYSE:TMK) released its quarterly earnings results on Tuesday. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03, Briefing.com reports. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 EPS. Torchmark Corporation updated its FY17 guidance to $4.77-4.83 EPS and its FY18 guidance to $5.00-5.25 EPS.
Shares of Torchmark Corporation (NYSE:TMK) traded up 0.22% during trading on Tuesday, reaching $83.88. The company had a trading volume of 382,525 shares. The company’s 50 day moving average is $79.46 and its 200-day moving average is $77.53. Torchmark Corporation has a 1-year low of $62.86 and a 1-year high of $84.07. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 18.04 and a beta of 1.00.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be issued a $0.15 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.72%. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
Several equities analysts have recently weighed in on TMK shares. BidaskClub cut Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $78.00 price target on shares of Torchmark Corporation in a report on Sunday, October 8th. Zacks Investment Research cut Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Finally, Barclays PLC increased their price target on Torchmark Corporation from $65.00 to $67.00 and gave the company an “underweight” rating in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Torchmark Corporation currently has an average rating of “Hold” and an average target price of $75.83.
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In other Torchmark Corporation news, EVP Vern D. Herbel sold 27,500 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $78.62, for a total value of $2,162,050.00. Following the sale, the executive vice president now directly owns 56,943 shares of the company’s stock, valued at $4,476,858.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Arvelia Bowie sold 16,875 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $78.45, for a total transaction of $1,323,843.75. Following the completion of the sale, the vice president now directly owns 17,941 shares in the company, valued at $1,407,471.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,821 shares of company stock worth $10,837,593. 3.79% of the stock is owned by corporate insiders.
About Torchmark Corporation
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.
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