TMK has been the subject of several other research reports. Evercore ISI initiated coverage on Torchmark Corp. in a research note on Wednesday, July 6th. They set a hold rating and a $63.00 price objective for the company. RBC Capital Markets reaffirmed an underperform rating and set a $55.00 price target (up previously from $53.00) on shares of Torchmark Corp. in a research note on Monday, August 1st. Deutsche Bank AG lifted their price target on Torchmark Corp. from $56.00 to $59.00 and gave the stock a hold rating in a research note on Friday, July 29th. Zacks Investment Research raised Torchmark Corp. from a hold rating to a buy rating and set a $66.00 price target for the company in a research note on Wednesday, June 29th. Finally, Citigroup Inc. lifted their price target on Torchmark Corp. from $58.00 to $60.00 and gave the stock a neutral rating in a research note on Thursday, July 7th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $57.91.
Shares of Torchmark Corp. (NYSE:TMK) opened at 63.85 on Friday. Torchmark Corp. has a 52 week low of $48.47 and a 52 week high of $65.60. The stock has a 50 day moving average price of $63.61 and a 200 day moving average price of $59.79. The firm has a market cap of $7.65 billion, a PE ratio of 14.68 and a beta of 1.08.
Torchmark Corp. (NYSE:TMK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The company earned $992 million during the quarter, compared to analyst estimates of $979.43 million. Torchmark Corp. had a return on equity of 12.19% and a net margin of 13.85%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. Equities analysts expect that Torchmark Corp. will post $4.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.88%. Torchmark Corp.’s dividend payout ratio (DPR) is 12.84%.
In other news, EVP Vern D. Herbel sold 88,125 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $61.87, for a total value of $5,452,293.75. Following the sale, the executive vice president now directly owns 85,630 shares of the company’s stock, valued at approximately $5,297,928.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Henry Rogers, Jr. sold 875 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $65.03, for a total value of $56,901.25. Following the completion of the sale, the insider now directly owns 875 shares in the company, valued at $56,901.25. The disclosure for this sale can be found here. Company insiders own 3.96% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Balentine LLC boosted its position in Torchmark Corp. by 5.7% in the second quarter. Balentine LLC now owns 1,855 shares of the company’s stock valued at $115,000 after buying an additional 100 shares during the period. Glenmede Trust Co. NA boosted its position in Torchmark Corp. by 2,706.2% in the second quarter. Glenmede Trust Co. NA now owns 2,273 shares of the company’s stock valued at $139,000 after buying an additional 2,192 shares during the period. Advisor Group Inc. acquired a new position in Torchmark Corp. during the second quarter valued at about $151,000. State of Alaska Department of Revenue boosted its position in Torchmark Corp. by 7.7% in the second quarter. State of Alaska Department of Revenue now owns 2,542 shares of the company’s stock valued at $157,000 after buying an additional 181 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in Torchmark Corp. during the second quarter valued at about $197,000. 75.52% of the stock is currently owned by hedge funds and other institutional investors.
About Torchmark Corp.
Torchmark Corporation is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance.
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