Shares of Torchmark Co. (NYSE:TMK) have been given an average rating of “Hold” by the six analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $86.50.
Several analysts recently issued reports on the company. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Tuesday, May 21st. Morgan Stanley raised their target price on Torchmark from $84.00 to $86.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th.
In other Torchmark news, VP Carol A. Mccoy sold 6,000 shares of Torchmark stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $88.64, for a total transaction of $531,840.00. Following the sale, the vice president now directly owns 101,043 shares of the company’s stock, valued at approximately $8,956,451.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Frank M. Svoboda sold 11,250 shares of Torchmark stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $91.85, for a total value of $1,033,312.50. Following the sale, the chief financial officer now directly owns 117,783 shares in the company, valued at $10,818,368.55. The disclosure for this sale can be found here. Insiders sold 154,924 shares of company stock worth $14,140,749 over the last three months. 3.64% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB boosted its position in Torchmark by 45.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 27,530 shares of the insurance provider’s stock valued at $2,256,000 after acquiring an additional 8,600 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in Torchmark by 4.1% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 16,160 shares of the insurance provider’s stock valued at $1,446,000 after acquiring an additional 639 shares in the last quarter. Andra AP fonden bought a new stake in Torchmark during the 1st quarter valued at approximately $7,818,000. Municipal Employees Retirement System of Michigan bought a new stake in Torchmark during the 4th quarter valued at approximately $208,000. Finally, First Republic Investment Management Inc. boosted its position in Torchmark by 4.9% during the 1st quarter. First Republic Investment Management Inc. now owns 11,058 shares of the insurance provider’s stock valued at $906,000 after acquiring an additional 519 shares in the last quarter. 75.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE TMK traded down $0.76 during trading hours on Thursday, hitting $87.25. The company’s stock had a trading volume of 381,033 shares, compared to its average volume of 500,082. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market capitalization of $9.59 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.68 and a beta of 0.95. Torchmark has a 12 month low of $69.68 and a 12 month high of $93.26. The stock has a 50-day moving average price of $90.18.
Torchmark (NYSE:TMK) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.02. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Torchmark had a return on equity of 12.90% and a net margin of 16.26%. Torchmark’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.51 earnings per share. On average, equities research analysts anticipate that Torchmark will post 6.73 earnings per share for the current fiscal year.
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, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.
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