Torchmark Corporation (NYSE:TMK) has been given an average recommendation of “Hold” by the ten analysts that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $73.00.
TMK has been the topic of several recent analyst reports. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Monday, April 24th. ValuEngine raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $75.00 price objective on shares of Torchmark Corporation in a research note on Friday, May 26th.
Torchmark Corporation (NYSE TMK) opened at 79.23 on Tuesday. The company has a 50-day moving average of $77.81 and a 200-day moving average of $76.64. Torchmark Corporation has a 52 week low of $60.92 and a 52 week high of $79.90. The stock has a market cap of $9.27 billion, a P/E ratio of 17.02 and a beta of 0.98.
Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.70% and a net margin of 13.96%. Torchmark Corporation’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.11 EPS. On average, analysts predict that Torchmark Corporation will post $4.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.76%. Torchmark Corporation’s dividend payout ratio is presently 12.88%.
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 transaction of $148,593.75. Following the completion of the transaction, the insider now directly owns 1,875 shares of the company’s stock, valued at $148,593.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gary L. Coleman sold 37,500 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $78.57, for a total value of $2,946,375.00. Following the transaction, the chairman now directly owns 666,875 shares of the company’s stock, valued at $52,396,368.75. The disclosure for this sale can be found here. Insiders sold 92,577 shares of company stock valued at $7,256,884 in the last quarter. 3.79% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group boosted its position in shares of Torchmark Corporation by 3.9% in the second quarter. Schroder Investment Management Group now owns 710,904 shares of the insurance provider’s stock valued at $54,256,000 after buying an additional 26,789 shares during the period. Synovus Financial Corp boosted its position in shares of Torchmark Corporation by 3.9% in the second quarter. Synovus Financial Corp now owns 20,715 shares of the insurance provider’s stock valued at $1,585,000 after buying an additional 778 shares during the period. Cipher Capital LP boosted its position in shares of Torchmark Corporation by 10.7% in the second quarter. Cipher Capital LP now owns 89,405 shares of the insurance provider’s stock valued at $6,840,000 after buying an additional 8,670 shares during the period. Swiss National Bank boosted its position in shares of Torchmark Corporation by 2.1% in the second quarter. Swiss National Bank now owns 407,928 shares of the insurance provider’s stock valued at $31,206,000 after buying an additional 8,400 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Torchmark Corporation by 21.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock valued at $225,000 after buying an additional 515 shares during the period. 74.74% of the stock is owned by institutional investors.
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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