Torchmark Corporation (NYSE:TMK) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Torchmark Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. ValuEngine raised shares of Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $75.00 price objective on shares of Torchmark Corporation in a research report on Friday, May 26th. Six research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $69.86.
Torchmark Corporation (TMK) traded up 0.22% during mid-day trading on Monday, hitting $78.49. 216,925 shares of the stock traded hands. The stock has a 50 day moving average price of $76.85 and a 200 day moving average price of $76.16. The firm has a market cap of $9.18 billion, a PE ratio of 17.06 and a beta of 0.98. Torchmark Corporation has a 12-month low of $60.49 and a 12-month high of $79.53.
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In other Torchmark Corporation news, Director Lloyd W. Newton bought 2,500 shares of Torchmark Corporation stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $75.28 per share, for a total transaction of $188,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven John Dichiaro sold 4,500 shares of Torchmark Corporation stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $75.08, for a total transaction of $337,860.00. Following the completion of the sale, the insider now owns 12,860 shares of the company’s stock, valued at $965,528.80. The disclosure for this sale can be found here. 3.79% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Torchmark Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock worth $918,194,000 after buying an additional 458,913 shares during the last quarter. BlackRock Inc. increased its position in shares of Torchmark Corporation by 2,764.7% in the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock worth $576,118,000 after buying an additional 7,217,094 shares during the last quarter. State Street Corp increased its position in shares of Torchmark Corporation by 2.6% in the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock worth $450,848,000 after buying an additional 150,546 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Torchmark Corporation by 1.2% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,023,143 shares of the insurance provider’s stock worth $156,033,000 after buying an additional 23,100 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Torchmark Corporation by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,196,767 shares of the insurance provider’s stock worth $92,199,000 after buying an additional 127,185 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.
About Torchmark Corporation
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.
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