Torchmark Corp. (NYSE:TMK) has received a consensus rating of “Hold” from the thirteen brokerages that are covering the company. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $58.20.
A number of equities research analysts recently weighed in on TMK shares. Zacks Investment Research downgraded shares of Torchmark Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. RBC Capital Markets reaffirmed an “underperform” rating and set a $55.00 price objective (up previously from $53.00) on shares of Torchmark Corp. in a research report on Monday, August 1st. Royal Bank Of Canada boosted their price objective on shares of Torchmark Corp. from $53.00 to $55.00 and gave the company an “underperform” rating in a research report on Monday, August 1st. Evercore ISI started coverage on shares of Torchmark Corp. in a research report on Wednesday, July 6th. They set a “hold” rating and a $63.00 price objective for the company. Finally, Bank of America Corp. raised shares of Torchmark Corp. from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 29th.
In related news, insider John Henry Rogers, Jr. sold 875 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $65.03, for a total value of $56,901.25. Following the sale, the insider now directly owns 875 shares in the company, valued at approximately $56,901.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Roger C. Smith sold 22,500 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $63.68, for a total transaction of $1,432,800.00. Following the completion of the sale, the insider now owns 51,563 shares in the company, valued at $3,283,531.84. The disclosure for this sale can be found here. 3.96% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Balentine LLC raised its stake 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 stake 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 stake in Torchmark Corp. during the second quarter worth about $151,000. State of Alaska Department of Revenue raised its stake 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 stake 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. Institutional investors and hedge funds own 75.52% of the company’s stock.
Torchmark Corp. (NYSE:TMK) opened at 63.89 on Tuesday. Torchmark Corp. has a one year low of $48.47 and a one year high of $65.60. The firm has a 50-day moving average of $63.82 and a 200-day moving average of $60.14. The stock has a market capitalization of $7.65 billion, a PE ratio of 14.69 and a beta of 1.08.
Torchmark Corp. (NYSE:TMK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. Torchmark Corp. had a net margin of 13.85% and a return on equity of 12.19%. The business earned $992 million during the quarter, compared to the consensus estimate of $979.43 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Torchmark Corp. will post $4.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.88%. Torchmark Corp.’s payout ratio is currently 12.84%.
About Torchmark Corp.
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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