Torchmark (TMK) Hits New 52-Week Low at $79.37

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Torchmark Co. (NYSE:TMK) reached a new 52-week low on Thursday . The stock traded as low as $79.37 and last traded at $80.15, with a volume of 22508 shares. The stock had previously closed at $82.22.

Several research firms have weighed in on TMK. Morgan Stanley upped their target price on Torchmark from $81.00 to $83.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 13th. SunTrust Banks cut their target price on Torchmark from $89.00 to $84.00 and set a “hold” rating for the company in a research note on Monday, October 29th. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Thursday, October 4th. Finally, Goldman Sachs Group cut Torchmark from a “neutral” rating to a “sell” rating and cut their target price for the stock from $92.00 to $78.00 in a research note on Monday, September 10th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $85.86.

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.96 and a beta of 0.86.

Torchmark (NYSE:TMK) last released its earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.06. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Torchmark had a return on equity of 11.70% and a net margin of 36.42%. As a group, equities analysts forecast that Torchmark Co. will post 6.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Friday, January 4th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $0.64 annualized dividend and a dividend yield of 0.80%. Torchmark’s dividend payout ratio (DPR) is presently 13.28%.

In other news, CFO Frank M. Svoboda sold 12,375 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $87.70, for a total transaction of $1,085,287.50. Following the completion of the transaction, the chief financial officer now directly owns 105,828 shares in the company, valued at $9,281,115.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Henry Rogers, Jr. sold 1,875 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $88.16, for a total transaction of $165,300.00. Following the transaction, the insider now owns 1,875 shares of the company’s stock, valued at $165,300. The disclosure for this sale can be found here. Insiders have sold 14,461 shares of company stock valued at $1,268,301 over the last quarter. Company insiders own 3.68% of the company’s stock.

Several large investors have recently made changes to their positions in TMK. Riverhead Capital Management LLC increased its holdings in Torchmark by 28.5% in the second quarter. Riverhead Capital Management LLC now owns 31,038 shares of the insurance provider’s stock valued at $2,527,000 after purchasing an additional 6,877 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Torchmark by 69.6% in the second quarter. Cubist Systematic Strategies LLC now owns 28,011 shares of the insurance provider’s stock valued at $2,280,000 after purchasing an additional 11,495 shares during the period. Bank of New York Mellon Corp increased its holdings in Torchmark by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 1,498,890 shares of the insurance provider’s stock valued at $122,025,000 after purchasing an additional 203,149 shares during the period. Gofen & Glossberg LLC IL acquired a new stake in Torchmark in the third quarter valued at $207,000. Finally, Flinton Capital Management LLC grew its holdings in Torchmark by 27.5% during the 2nd quarter. Flinton Capital Management LLC now owns 19,648 shares of the insurance provider’s stock worth $1,600,000 after acquiring an additional 4,240 shares during the period. Institutional investors own 74.52% of the company’s stock.

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Torchmark Company Profile (NYSE:TMK)

Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.

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