Torchmark Co. (TMK) Receives $85.38 Average Price Target from Analysts

Shares of Torchmark Co. (NYSE:TMK) have received a consensus recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $85.38.

A number of analysts have weighed in on the company. Goldman Sachs Group cut Torchmark from a “neutral” rating to a “sell” rating and cut their price target for the company from $92.00 to $78.00 in a research note on Monday, September 10th. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research note on Thursday, October 4th. Finally, Morgan Stanley raised their price target on Torchmark from $80.00 to $81.00 and gave the company an “underweight” rating in a research note on Thursday, July 26th.

In other news, VP Carol A. Mccoy sold 18,000 shares of Torchmark stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $88.65, for a total transaction of $1,595,700.00. Following the sale, the vice president now owns 113,043 shares in the company, valued at $10,021,261.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vern D. Herbel sold 52,500 shares of Torchmark stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $88.25, for a total value of $4,633,125.00. Following the sale, the executive vice president now owns 52,500 shares in the company, valued at approximately $4,633,125. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 369,615 shares of company stock worth $32,604,043. 3.68% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of TMK. Sei Investments Co. increased its position in shares of Torchmark by 8.1% during the first quarter. Sei Investments Co. now owns 48,248 shares of the insurance provider’s stock worth $4,061,000 after purchasing an additional 3,622 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Torchmark by 4.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 17,158 shares of the insurance provider’s stock worth $1,444,000 after purchasing an additional 661 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Torchmark by 284.1% during the first quarter. Lord Abbett & CO. LLC now owns 239,700 shares of the insurance provider’s stock worth $20,176,000 after purchasing an additional 177,300 shares in the last quarter. Ostrum Asset Management acquired a new stake in shares of Torchmark during the first quarter worth about $324,000. Finally, Natixis increased its position in shares of Torchmark by 4.8% during the first quarter. Natixis now owns 20,643 shares of the insurance provider’s stock worth $1,734,000 after purchasing an additional 951 shares in the last quarter. Institutional investors and hedge funds own 73.99% of the company’s stock.

NYSE:TMK traded up $1.11 during midday trading on Friday, reaching $86.03. The company had a trading volume of 566,700 shares, compared to its average volume of 575,610. The firm has a market cap of $9.64 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. Torchmark has a 12-month low of $80.43 and a 12-month high of $93.60. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.15.

Torchmark (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 25th. The insurance provider reported $1.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.02. Torchmark had a return on equity of 11.23% and a net margin of 36.13%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $1.19 earnings per share. Torchmark’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Torchmark will post 6.07 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, October 4th. Torchmark’s dividend payout ratio is presently 13.28%.

Torchmark Company Profile

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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Analyst Recommendations for Torchmark (NYSE:TMK)

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