Shares are trading at $83.70 just a bit higher than the 50 day moving average of $79.46 and just above the 200 day moving average of $77.53. The 50 day moving average was up $4.24 whereas the 200 day moving average was up $6.17 or +7.96%. (NYSE:TMK) shares saw light trading volume with 5,435 shares changing hands on Tuesday. Overall, volume was down 99.21% under the stocks normal daily volume.
Traders are a little more bullish on shares of the company of late considering the fall in short interest. The company had a fall in short interest of -20.68% as of September 29, 2017 from the last reporting period. Short interest decreased from 1,933,158 to 1,533,426 over that period. Days to cover decreased from 5.0 to 4.0 and the percentage of shorted shares was 0.01% on September 29.
There has been some selling insider activity on Torchmark Corporation (NYSE:TMK) recently. Vern D. Herbel, EVP and Chief Admin. Officer disclosed the sale of 27,500 shares. The shares were purchased at an average price of $78.62. The EVP and Chief Admin. Officer now owns $2,314,809 of the stock according to the SEC filing.
These firms have modified their investment in TMK. As of quarter end Foster & Motley Inc had disposed of 62 shares trimming its stake by 0.9%. The value of the total investment in Torchmark Corporation increased from $522,000 to $542,000 increasing 3.8% quarter over quarter. As of the end of the quarter Shell Asset Management CO had sold a total of 1,817 shares trimming its holdings by 6.0%. The value of the investment in (TMK) went from $2,325,000 to $2,289,000 a change of 1.5% quarter to quarter.
State Treasurer State Of Michigan divested its position by selling 2,900 shares a decrease of 8.1% as of 09/30/2017. State Treasurer State Of Michigan now holds 32,810 shares with a value of $2,628,000. The value of the position overall is down by 3.8%. Robeco Institutional Asset Management B.v. expanded its stake by buying 19 shares an increase of 0.4%. Robeco Institutional Asset Management B.v. currently owns 4,875 shares worth $390,000. The total value of its holdings increased 4.8%.
August 11 investment analysts at Barclays kept the company rating at “Underweight” and raised the price expectation from $57.00 to $67.00.
The company is up since yesterday’s close of 83.12. Additionally Torchmark Corporation announced a dividend for shareholders payable on Wednesday the 1st of November 2017. The dividend will be $0.150 per share for the quarter or $0.60 on an annualized basis. This dividend amount will represent a yield of $0.73. The ex-dividend date will be on Thursday the 5th of October 2017.
Torchmark Corporation’s P/E ratio is 18.00 and the market cap is 9.74B. In the last earnings report the EPS was $4.65 and is estimated to be $4.75 for the current year with 116,320,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $1.21 and the next full year EPS is anticipated to be $5.06.
Torchmark Corporation (Torchmark), launched on November 29, 1979, 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 Business’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. The Health insurance products are guaranteed-renewable and include Medicare Supplement, critical illness, accident and limited-benefit supplemental hospital and surgical coverage’s. Annuities include fixed-benefit contracts. The Company markets its insurance products through various distribution channels, each of which sells the products of its insurance segments. Its primary subsidiaries include American Income Life Insurance Company (American Income), Liberty National Life Insurance Company (Liberty National), Globe Life And Accident Insurance Company (Globe), United American Insurance Company (United American) and Family Heritage Life Insurance Company of America (Family Heritage)..