Torchmark Reaches New 1-Year High at $82.68 (TMK)
Torchmark (NYSE:TMK)’s share price hit a new 52-week high during mid-day trading on Wednesday , Analyst Ratings News reports. The company traded as high as $82.68 and last traded at $82.02, with a volume of 193,860 shares trading hands. The stock had previously closed at $81.72.
A number of analysts have recently weighed in on TMK shares. Analysts at Bank of America downgraded shares of Torchmark from a “buy” rating to a “neutral” rating in a research note on Friday, May 16th. They now have a $87.00 price target on the stock. They noted that the move was a valuation call. Separately, 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. Finally, 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. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Torchmark presently has an average rating of “Hold” and an average price target of $77.83.
The stock has a 50-day moving average of $79.93 and a 200-day moving average of $77.69. The company has a market cap of $7.200 billion and a price-to-earnings ratio of 13.87.
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 announced a dividend, which is scheduled for Friday, August 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.1267 per share. The ex-dividend date is Thursday, May 29th.
In other Torchmark news, VP Ben Lutek sold 10,000 shares of Torchmark stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $80.75, for a total transaction of $807,500.00. The transaction 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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