Torchmark Corp. (TMK) Now Covered by Analysts at Credit Suisse Group AG
Investment analysts at Credit Suisse Group AG began coverage on shares of Torchmark Corp. (NYSE:TMK) in a research report issued on Friday. The firm set a “neutral” rating on the stock.
A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Torchmark Corp. from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co. reissued an “underperform” rating on shares of Torchmark Corp. in a report on Friday, September 23rd. RBC Capital Markets reissued an “underperform” rating and issued a $55.00 price target (up previously from $53.00) on shares of Torchmark Corp. in a report on Monday, August 1st. Royal Bank Of Canada increased their price target on shares of Torchmark Corp. from $53.00 to $55.00 and gave the stock an “underperform” rating in a report on Monday, August 1st. Finally, Deutsche Bank AG increased their price target on shares of Torchmark Corp. from $56.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Torchmark Corp. has a consensus rating of “Hold” and a consensus price target of $58.36.
Shares of Torchmark Corp. (NYSE:TMK) remained flat at $64.38 during trading on Friday. The company’s stock had a trading volume of 370,193 shares. Torchmark Corp. has a 12 month low of $48.47 and a 12 month high of $65.60. The firm has a market capitalization of $7.71 billion, a PE ratio of 14.81 and a beta of 1.06. The company has a 50 day moving average of $64.08 and a 200-day moving average of $60.40.
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Torchmark Corp. (NYSE:TMK) last posted its earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.02. The business had revenue of $992 million for the quarter, compared to analyst estimates of $979.43 million. Torchmark Corp. had a net margin of 13.85% and a return on equity of 12.19%. Torchmark Corp.’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 EPS. On average, analysts expect that Torchmark Corp. will post $4.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.56 annualized dividend and a yield of 0.87%. Torchmark Corp.’s payout ratio is currently 12.84%.
In other news, insider Bill Leavell sold 25,200 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $62.08, for a total value of $1,564,416.00. Following the completion of the sale, the insider now directly owns 45,534 shares of the company’s stock, valued at approximately $2,826,750.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Frank M. Svoboda sold 21,250 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $61.94, for a total transaction of $1,316,225.00. Following the completion of the sale, the chief financial officer now directly owns 92,004 shares of the company’s stock, valued at $5,698,727.76. The disclosure for this sale can be found here. Company insiders own 3.96% of the company’s stock.
Large investors have recently bought and sold shares of the company. Standard Life Investments LTD boosted its stake in Torchmark Corp. by 5.5% in the second quarter. Standard Life Investments LTD now owns 1,164,535 shares of the company’s stock valued at $72,003,000 after buying an additional 61,065 shares in the last quarter. RS Investment Management Co. LLC raised its position in shares of Torchmark Corp. by 3.2% in the second quarter. RS Investment Management Co. LLC now owns 471,240 shares of the company’s stock valued at $29,132,000 after buying an additional 14,475 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Torchmark Corp. by 0.4% in the first quarter. Geode Capital Management LLC now owns 956,016 shares of the company’s stock valued at $51,674,000 after buying an additional 3,607 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Torchmark Corp. by 22.4% in the first quarter. Nuveen Asset Management LLC now owns 35,310 shares of the company’s stock valued at $1,912,000 after buying an additional 6,469 shares during the last quarter. Finally, Calvert Investment Management Inc. acquired a new position in shares of Torchmark Corp. during the second quarter valued at about $536,000. 75.52% of the stock is 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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