ValuEngine Upgrades Torchmark (TMK) to “Buy”

Torchmark (NYSE:TMK) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Thursday, October 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $83.00 price target on shares of Torchmark in a report on Friday, November 10th. SunTrust Banks upped their price target on Torchmark from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Goldman Sachs Group started coverage on Torchmark in a report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus 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. The stock had a trading volume of 279,574 shares, compared to its average volume of 502,849. The company has a market capitalization of $10,472.20, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. Torchmark has a 52-week low of $72.59 and a 52-week high of $91.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.06 and a current ratio of 0.06.

Torchmark (NYSE:TMK) last announced its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Torchmark had a return on equity of 11.60% and a net margin of 13.80%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. Torchmark’s revenue was up 5.7% compared to the same quarter last year. equities analysts expect that Torchmark will post 4.8 EPS for the current year.

In other news, Chairman Gary L. Coleman sold 37,500 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $83.28, for a total transaction of $3,123,000.00. Following the transaction, the chairman now owns 666,875 shares of the company’s stock, valued at approximately $55,537,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roger C. Smith sold 30,000 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $90.64, for a total value of $2,719,200.00. Following the transaction, the insider now directly owns 65,685 shares in the company, valued at approximately $5,953,688.40. The disclosure for this sale can be found here. Insiders sold a total of 193,085 shares of company stock valued at $16,420,614 in the last 90 days. Corporate insiders own 3.79% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TMK. Schwab Charles Investment Management Inc. lifted its holdings in Torchmark by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 499,721 shares of the insurance provider’s stock worth $38,229,000 after purchasing an additional 14,400 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Torchmark by 18.9% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,310 shares of the insurance provider’s stock worth $2,089,000 after purchasing an additional 4,335 shares in the last quarter. Pacad Investment Ltd. lifted its holdings in Torchmark by 583.3% during the 2nd quarter. Pacad Investment Ltd. now owns 4,100 shares of the insurance provider’s stock worth $314,000 after purchasing an additional 3,500 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in Torchmark by 21.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock worth $225,000 after purchasing an additional 515 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Torchmark by 2.1% during the 2nd quarter. Swiss National Bank now owns 407,928 shares of the insurance provider’s stock worth $31,206,000 after purchasing an additional 8,400 shares in the last quarter. 72.46% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Torchmark (NYSE:TMK)

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