Torchmark (TMK) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of Torchmark (NYSE:TMK) from a hold rating to a buy rating in a research report sent to investors on Sunday.
Several other equities research analysts have also recently weighed in on TMK. Zacks Investment Research cut shares of Torchmark from a buy rating to a hold rating in a research note on Monday, September 11th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $78.00 target price on shares of Torchmark in a research note on Sunday, October 8th. Goldman Sachs Group assumed coverage on shares of Torchmark in a research note on Wednesday, October 18th. They issued a neutral rating and a $83.00 target price for the company. Finally, SunTrust Banks raised their price target on shares of Torchmark from $75.00 to $85.00 and gave the stock a hold rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $78.86.
Torchmark (TMK) traded down $0.45 during midday trading on Friday, hitting $90.71. 279,500 shares of the company traded hands, compared to its average volume of 445,343. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. Torchmark has a twelve month low of $72.59 and a twelve month high of $91.29. The company has a market capitalization of $10,472.18, a PE ratio of 19.30, a PEG ratio of 2.63 and a beta of 1.01.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 4th. Torchmark’s dividend payout ratio is 12.77%.
In other Torchmark news, EVP James Eric Mcpartland sold 5,115 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $85.56, for a total transaction of $437,639.40. Following the completion of the transaction, the executive vice president now owns 7,000 shares in the company, valued at $598,920. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Roger C. Smith sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $84.50, for a total transaction of $2,535,000.00. Following the transaction, the insider now owns 65,685 shares of the company’s stock, valued at approximately $5,550,382.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,085 shares of company stock valued at $16,420,614. Corporate insiders own 3.79% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TMK. Janus Henderson Group PLC increased its holdings in shares of Torchmark by 14,667.6% during the second quarter. Janus Henderson Group PLC now owns 2,531,462 shares of the insurance provider’s stock worth $193,657,000 after buying an additional 2,514,320 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Torchmark during the second quarter worth approximately $26,997,000. PGGM Investments acquired a new stake in shares of Torchmark during the third quarter worth approximately $23,339,000. Goldman Sachs Group Inc. increased its holdings in shares of Torchmark by 11.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,331,664 shares of the insurance provider’s stock worth $101,872,000 after buying an additional 134,897 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Torchmark by 739.8% during the third quarter. Teacher Retirement System of Texas now owns 140,980 shares of the insurance provider’s stock worth $11,291,000 after buying an additional 124,193 shares in the last quarter. 72.46% of the stock is owned by institutional investors.
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Torchmark Company Profile
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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