Brokerages Set Torchmark Corp. (NYSE:TMK) Price Target at $58.20
Shares of Torchmark Corp. (NYSE:TMK) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the company. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $58.20.
A number of research firms have recently weighed in on TMK. Zacks Investment Research raised Torchmark Corp. from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday. Wells Fargo & Co. reaffirmed an “underperform” rating on shares of Torchmark Corp. in a report on Friday, September 23rd. Citigroup Inc. lifted their price target on Torchmark Corp. from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Goldman Sachs Group Inc. raised Torchmark Corp. from a “sell” rating to a “neutral” rating and lifted their price target for the company from $54.00 to $60.00 in a report on Friday, July 15th. Finally, Deutsche Bank AG lifted their price target on Torchmark Corp. from $56.00 to $59.00 and gave the company a “hold” rating in a report on Friday, July 29th.
In related news, Chairman Gary L. Coleman sold 37,500 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $62.06, for a total value of $2,327,250.00. Following the completion of the transaction, the chairman now owns 625,581 shares of the company’s stock, valued at approximately $38,823,556.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Henry Rogers, Jr. sold 875 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $65.03, for a total transaction of $56,901.25. Following the completion of the transaction, the insider now directly owns 875 shares of the company’s stock, valued at approximately $56,901.25. The disclosure for this sale can be found here. 3.96% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of TMK. Balentine LLC raised its position in Torchmark Corp. by 5.7% in the second quarter. Balentine LLC now owns 1,855 shares of the company’s stock worth $115,000 after buying an additional 100 shares in the last quarter. Glenmede Trust Co. NA raised its position in Torchmark Corp. by 2,706.2% in the second quarter. Glenmede Trust Co. NA now owns 2,273 shares of the company’s stock worth $139,000 after buying an additional 2,192 shares in the last quarter. Advisor Group Inc. purchased a new position in Torchmark Corp. during the second quarter worth approximately $151,000. State of Alaska Department of Revenue raised its position in Torchmark Corp. by 7.7% in the second quarter. State of Alaska Department of Revenue now owns 2,542 shares of the company’s stock worth $157,000 after buying an additional 181 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Torchmark Corp. by 617.8% in the first quarter. Bessemer Group Inc. now owns 3,589 shares of the company’s stock worth $194,000 after buying an additional 3,089 shares in the last quarter. 75.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Torchmark Corp. (NYSE:TMK) opened at 63.23 on Tuesday. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 14.54 and a beta of 1.08. Torchmark Corp. has a 1-year low of $48.47 and a 1-year high of $65.60. The company has a 50-day moving average price of $63.77 and a 200-day moving average price of $60.08.
Torchmark Corp. (NYSE:TMK) last issued its earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.02. Torchmark Corp. had a net margin of 13.85% and a return on equity of 12.19%. The firm had revenue of $992 million for the quarter, compared to analysts’ expectations of $979.43 million. During the same quarter last year, the company posted $1.05 earnings per share. Torchmark Corp.’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that Torchmark Corp. will post $4.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.56 annualized dividend and a yield of 0.89%. Torchmark Corp.’s dividend payout ratio (DPR) is 12.84%.
Torchmark Corp. Company Profile
Torchmark Corporation is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance.
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