Torchmark Corporation (NYSE:TMK) Rating Increased to Buy at BidaskClub
Torchmark Corporation (NYSE:TMK) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday, July 11th.
TMK has been the topic of several other reports. Zacks Investment Research downgraded shares of Torchmark Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. ValuEngine downgraded shares of Torchmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $75.00 price target on shares of Torchmark Corporation in a report on Friday, April 21st. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $73.00.
Shares of Torchmark Corporation (TMK) traded up 0.29% during trading on Tuesday, hitting $79.07. The stock had a trading volume of 213,521 shares. The stock has a 50 day moving average of $77.49 and a 200 day moving average of $76.44. The firm has a market cap of $9.25 billion, a PE ratio of 16.99 and a beta of 0.98. Torchmark Corporation has a 52-week low of $60.92 and a 52-week high of $79.53.
Torchmark Corporation (NYSE:TMK) last released its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.17 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.70%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 EPS. On average, equities analysts anticipate that Torchmark Corporation will post $4.75 EPS for the current year.
In other Torchmark Corporation news, Director Lloyd W. Newton bought 2,500 shares of Torchmark Corporation stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average cost of $75.28 per share, for a total transaction of $188,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Arvelia Bowie sold 16,875 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $78.45, for a total transaction of $1,323,843.75. Following the completion of the sale, the vice president now owns 17,941 shares of the company’s stock, valued at $1,407,471.45. The disclosure for this sale can be found here. Insiders sold 92,577 shares of company stock valued at $7,256,884 over the last quarter. Company insiders own 3.79% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Torchmark Corporation by 2,764.7% in the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock valued at $576,118,000 after buying an additional 7,217,094 shares during the last quarter. Janus Capital Management LLC boosted its stake in Torchmark Corporation by 205.9% in the first quarter. Janus Capital Management LLC now owns 1,139,756 shares of the insurance provider’s stock valued at $87,806,000 after buying an additional 767,124 shares during the last quarter. Vanguard Group Inc. boosted its stake in Torchmark Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock valued at $918,194,000 after buying an additional 458,913 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Torchmark Corporation by 159.2% in the second quarter. BNP Paribas Arbitrage SA now owns 475,542 shares of the insurance provider’s stock valued at $36,379,000 after buying an additional 292,092 shares during the last quarter. Finally, State Street Corp boosted its stake in Torchmark Corporation by 2.6% in the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock valued at $450,848,000 after buying an additional 150,546 shares during the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.
About Torchmark Corporation
Torchmark Corporation (Torchmark) 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 Company’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.
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