Torchmark (NYSE:TMK) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $6.61-6.75 bln for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.59. Torchmark also updated its FY 2019 guidance to $6.61-6.75 EPS.
Separately, Zacks Investment Research cut shares of Torchmark from a buy rating to a hold rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Torchmark presently has a consensus rating of Hold and an average price target of $86.00.
TMK opened at $87.14 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.06 and a current ratio of 0.06. Torchmark has a fifty-two week low of $69.68 and a fifty-two week high of $91.28. The stock has a market cap of $9.70 billion, a P/E ratio of 14.22, a PEG ratio of 1.66 and a beta of 1.01.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, July 3rd. Torchmark’s payout ratio is currently 11.26%.
In related news, insider Bill Leavell sold 38,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $87.38, for a total transaction of $3,320,440.00. Following the completion of the sale, the insider now owns 38,000 shares in the company, valued at $3,320,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gary L. Coleman sold 13,000 shares of Torchmark stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $87.01, for a total transaction of $1,131,130.00. Following the completion of the transaction, the chairman now owns 696,373 shares of the company’s stock, valued at approximately $60,591,414.73. The disclosure for this sale can be found here. Insiders have sold 227,514 shares of company stock worth $19,407,694 over the last three months. 3.64% of the stock is owned by insiders.
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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