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Torchmark (NYSE:TMK) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Friday, TheFlyOnTheWall.com reports. They currently have a $87.00 price target on the stock. Bank of America’s price objective would suggest a potential upside of 9.02% from the company’s current price. The analysts noted that the move was a valuation call.

Shares of Torchmark (NYSE:TMK) opened at 79.80 on Friday. Torchmark has a one year low of $62.51 and a one year high of $81.98. The stock’s 50-day moving average is $78.86 and its 200-day moving average is $76.97. The company has a market cap of $7.067 billion and a P/E ratio of 13.68.

Torchmark (NYSE:TMK) last announced its earnings results on Tuesday, April 22nd. The company reported $1.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.51 by $0.01. During the same quarter last year, the company posted $1.39 earnings per share. On average, analysts predict that Torchmark will post $6.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.1267 per share. This represents a $0.51 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, May 29th.

In other Torchmark news, VP Arvelia Bowie sold 6,750 shares of Torchmark stock on the open market in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $81.66, for a total transaction of $551,205.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of other firms have also recently commented on TMK. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Torchmark in a research note on Friday, April 25th. They now have a $89.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Torchmark in a research note on Wednesday, April 23rd. They now have a $80.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Torchmark in a research note on Wednesday, April 23rd. They now have a $82.00 price target on the stock. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $77.83.

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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