Torchmark Corp. Coverage Initiated by Analysts at Deutsche Bank (TMK)
Equities research analysts at Deutsche Bank assumed coverage on shares of Torchmark Corp. (NYSE:TMK) in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $80.00 price target on the stock. Deutsche Bank’s price target suggests a potential upside of 11.20% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Torchmark. We find TMK shares to be undervalued. First, our ahead-of-Consensus EPS estimates for 2014-2015 reflect our belief that management is successfully building middle-management bench-strength, which should allow for longer-term premium growth. Second, we believe that the traditional price-to-book valuation for insurers should not apply to this insurer, which acts more like an insurance agent than an underwriter, opting for a pure P/E approach instead. Our non-Consensus valuation approach leads to greater upside. Buy.”
Shares of Torchmark Corp. (NYSE:TMK) traded down 0.32% during mid-day trading on Monday, hitting $71.71. The stock had a trading volume of 127,314 shares. Torchmark Corp. has a 52 week low of $49.10 and a 52 week high of $73.11. The stock’s 50-day moving average is $71.06 and its 200-day moving average is $65.37. The company has a market cap of $6.567 billion and a price-to-earnings ratio of 12.75.
Torchmark Corp. (NYSE:TMK) last announced its earnings results on Wednesday, July 24th. The company reported $1.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.40 by $0.04. During the same quarter last year, the company posted $1.32 earnings per share. On average, analysts predict that Torchmark Corp. will post $5.70 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Torchmark Corp. (NYSE:TMK) in a research note to investors on Thursday, August 8th. They now have a $74.00 price target on the stock. Finally, analysts at Scotiabank raised their price target on shares of Torchmark Corp. (NYSE:TMK) from $68.00 to $72.00 in a research note to investors on Thursday, July 25th.
One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $69.58.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, October 2nd.
In other Torchmark Corp. news, Director Darren M. Rebelez sold 4,527 shares of Torchmark Corp. stock on the open market in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $71.99, for a total transaction of $325,898.73. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Torchmark Corporation is an insurance holding company. The Company is financial services holding company whose affiliate Companies market life insurance and supplemental health insurance to middle-income Americans.
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