Torchmark Co. (TMK) EVP Sells $980,040.00 in Stock

Torchmark Co. (NYSE:TMK) EVP Robert Brian Mitchell sold 12,000 shares of Torchmark stock in a transaction on Monday, March 11th. The shares were sold at an average price of $81.67, for a total value of $980,040.00. Following the completion of the transaction, the executive vice president now directly owns 51,808 shares of the company’s stock, valued at $4,231,159.36. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Shares of TMK opened at $82.32 on Wednesday. Torchmark Co. has a 52-week low of $69.68 and a 52-week high of $89.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market capitalization of $9.05 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01.

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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, meeting the Thomson Reuters’ consensus estimate of $1.56. Torchmark had a return on equity of 12.54% and a net margin of 16.32%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company posted $1.24 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts expect that Torchmark Co. will post 6.61 earnings per share for the current year.

Several brokerages have weighed in on TMK. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Saturday, January 5th. Morgan Stanley lifted their price objective on Torchmark from $81.00 to $83.00 and gave the company an “underweight” rating in a report on Tuesday, November 13th. JPMorgan Chase & Co. raised Torchmark from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 2nd. Finally, ValuEngine cut Torchmark from a “hold” rating to a “sell” rating in a report on Wednesday, December 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Torchmark has an average rating of “Hold” and an average price target of $85.60.

Institutional investors and hedge funds have recently modified their holdings of the company. Fox Run Management L.L.C. bought a new position in shares of Torchmark in the 4th quarter valued at $642,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Torchmark by 55.1% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,087 shares of the insurance provider’s stock valued at $4,404,000 after purchasing an additional 21,000 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Torchmark by 2,043.5% in the 3rd quarter. Bessemer Group Inc. now owns 67,991 shares of the insurance provider’s stock valued at $5,895,000 after purchasing an additional 64,819 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Torchmark in the 4th quarter valued at $1,143,000. Finally, Sumitomo Life Insurance Co. increased its stake in shares of Torchmark by 2.5% in the 4th quarter. Sumitomo Life Insurance Co. now owns 17,269 shares of the insurance provider’s stock valued at $1,287,000 after purchasing an additional 418 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

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Torchmark Company Profile

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, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.

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