Torchmark Corporation (TMK) Given New $67.00 Price Target at Barclays PLC

Torchmark Corporation (NYSE:TMK) had its target price hoisted by research analysts at Barclays PLC from $65.00 to $67.00 in a research report issued to clients and investors on Friday. The brokerage presently has an “underweight” rating on the insurance provider’s stock. Barclays PLC’s target price suggests a potential downside of 14.60% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Monday, April 24th. ValuEngine raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $75.00 price objective on shares of Torchmark Corporation in a research report on Friday, May 26th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $73.33.

Shares of Torchmark Corporation (TMK) traded up 0.15% during mid-day trading on Friday, hitting $78.57. The company had a trading volume of 34,183 shares. The firm has a market capitalization of $9.14 billion, a P/E ratio of 16.90 and a beta of 0.98. The firm has a 50-day moving average price of $77.87 and a 200 day moving average price of $76.65. Torchmark Corporation has a 12 month low of $60.92 and a 12 month high of $79.90.

Torchmark Corporation (NYSE:TMK) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $1.11 earnings per share. Torchmark Corporation’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Torchmark Corporation will post $4.75 earnings per share for the current fiscal year.

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In other news, insider John Henry Rogers, Jr. sold 1,875 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $79.25, for a total value of $148,593.75. Following the completion of the sale, the insider now owns 1,875 shares of the company’s stock, valued at $148,593.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven John Dichiaro sold 4,500 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $75.08, for a total value of $337,860.00. Following the completion of the sale, the insider now directly owns 12,860 shares of the company’s stock, valued at approximately $965,528.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,577 shares of company stock valued at $7,256,884. 3.79% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Foster & Motley Inc. increased its stake in shares of Torchmark Corporation by 55.9% in the first quarter. Foster & Motley Inc. now owns 6,824 shares of the insurance provider’s stock valued at $526,000 after buying an additional 2,446 shares during the last quarter. Aull & Monroe Investment Management Corp bought a new stake in shares of Torchmark Corporation during the first quarter valued at $206,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of Torchmark Corporation by 3.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,006 shares of the insurance provider’s stock valued at $217,000 after buying an additional 96 shares during the last quarter. James Investment Research Inc. increased its stake in shares of Torchmark Corporation by 1.8% in the first quarter. James Investment Research Inc. now owns 353,405 shares of the insurance provider’s stock valued at $27,226,000 after buying an additional 6,373 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Torchmark Corporation by 1.2% in the first quarter. Retirement Systems of Alabama now owns 52,941 shares of the insurance provider’s stock valued at $4,079,000 after buying an additional 636 shares during the last quarter. 74.74% of the stock is owned by institutional investors.

Torchmark Corporation 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.

Analyst Recommendations for Torchmark Corporation (NYSE:TMK)

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