Frank M. Svoboda Sells 12,375 Shares of Torchmark Co. (TMK) Stock

Torchmark Co. (NYSE:TMK) CFO Frank M. Svoboda sold 12,375 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $87.70, for a total transaction of $1,085,287.50. Following the sale, the chief financial officer now owns 105,828 shares of the company’s stock, valued at approximately $9,281,115.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE:TMK traded down $0.46 on Friday, reaching $87.03. 8,250 shares of the company’s stock were exchanged, compared to its average volume of 667,365. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $9.74 billion, a PE ratio of 18.04, a P/E/G ratio of 1.03 and a beta of 0.86. Torchmark Co. has a 52 week low of $80.34 and a 52 week high of $93.60.

Torchmark (NYSE:TMK) last issued its earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.06. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. Torchmark had a net margin of 36.42% and a return on equity of 11.53%. Analysts anticipate that Torchmark Co. will post 6.13 earnings per share for the current fiscal year.

TMK has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Torchmark from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Morgan Stanley raised their price objective on shares of Torchmark from $80.00 to $81.00 and gave the stock an “underweight” rating in a report on Thursday, July 26th. Goldman Sachs Group downgraded shares of Torchmark from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $92.00 to $78.00 in a report on Monday, September 10th. Finally, SunTrust Banks decreased their price objective on shares of Torchmark from $89.00 to $84.00 and set a “hold” rating for the company in a report on Monday, October 29th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $85.25.

A number of large investors have recently modified their holdings of TMK. Piedmont Investment Advisors LLC bought a new position in Torchmark during the second quarter worth about $101,000. Braun Bostich & Associates Inc. boosted its position in Torchmark by 1,298.9% during the second quarter. Braun Bostich & Associates Inc. now owns 1,287 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 1,195 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Torchmark by 22,414.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,576 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 1,569 shares during the period. Parallel Advisors LLC boosted its position in Torchmark by 118.8% during the third quarter. Parallel Advisors LLC now owns 1,726 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 937 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new position in Torchmark during the third quarter worth about $194,000. Hedge funds and other institutional investors own 74.27% 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, 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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