Torchmark Co. (NYSE:TMK) Chairman Gary L. Coleman sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $83.10, for a total transaction of $1,080,300.00. Following the completion of the transaction, the chairman now directly owns 662,547 shares of the company’s stock, valued at approximately $55,057,655.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NYSE:TMK traded up $0.28 during trading hours on Tuesday, reaching $83.64. The company’s stock had a trading volume of 431,659 shares, compared to its average volume of 534,961. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01. Torchmark Co. has a 12 month low of $69.68 and a 12 month high of $89.62. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.25.
Get Torchmark alerts:Torchmark (NYSE:TMK) last issued its quarterly earnings results on Tuesday, February 5th. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.56. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. Torchmark had a return on equity of 12.54% and a net margin of 16.32%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. On average, sell-side analysts expect that Torchmark Co. will post 6.63 EPS for the current year.
A number of equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Torchmark from $81.00 to $83.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 13th. SunTrust Banks reduced their price objective on shares of Torchmark from $89.00 to $84.00 and set a “hold” rating for the company in a research note on Monday, October 29th. ValuEngine downgraded shares of Torchmark from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Saturday, January 5th. Finally, JPMorgan Chase & Co. raised shares of Torchmark from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $85.17.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc increased its position in shares of Torchmark by 1.7% during the third quarter. Vanguard Group Inc now owns 12,664,337 shares of the insurance provider’s stock worth $1,097,870,000 after purchasing an additional 210,422 shares in the last quarter. FMR LLC increased its position in shares of Torchmark by 5.8% during the third quarter. FMR LLC now owns 2,559,426 shares of the insurance provider’s stock worth $221,877,000 after purchasing an additional 139,310 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Torchmark by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 1,498,890 shares of the insurance provider’s stock worth $122,025,000 after purchasing an additional 203,149 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Torchmark by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 1,457,051 shares of the insurance provider’s stock worth $108,420,000 after purchasing an additional 89,972 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Torchmark by 1.2% during the fourth quarter. Northern Trust Corp now owns 1,254,449 shares of the insurance provider’s stock worth $93,493,000 after purchasing an additional 15,138 shares in the last quarter. 75.04% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This piece was originally reported by Ticker Report and is owned by of Ticker Report. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/4164414/torchmark-co-tmk-chairman-gary-l-coleman-sells-13000-shares.html.About Torchmark
Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
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