Torchmark Corporation (TMK) Upgraded at Zacks Investment Research
Torchmark Corporation (NYSE:TMK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $86.00 price objective on the insurance provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.38% from the company’s previous close.
According to Zacks, “Torchmark’s niche market focus, steady capital deployment and strong operating fundamentals should drive long-term growth. The life insurer estimates life and health sales growth in distribution channels. Also, a strong capital position and robust capital management are key positives. Torchmark now expects net operating income between $4.70 per share and $4.80 per share in 2017 banking on better than expected underwriting income and an increase in investment income, life underwriting income to increase between 2% and 4% while health underwriting income to increase between 1% and 3%. However, higher administrative expenses, pension costs and investments in IT systems will likely be a drag on Torchmark’s earnings in the near term. Shares of Torchmark also underperformed the industry year to date.”
Other equities analysts also recently issued reports about the company. BidaskClub upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. ValuEngine upgraded Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $75.00 target price on shares of Torchmark Corporation in a research report on Friday, May 26th. Finally, Barclays PLC increased their target price on Torchmark Corporation from $65.00 to $67.00 and gave the stock an “underweight” rating in a research report on Friday, August 11th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Torchmark Corporation presently has a consensus rating of “Hold” and a consensus price target of $73.00.
Torchmark Corporation (TMK) traded down 0.43% on Tuesday, reaching $76.88. 124,709 shares of the company’s stock were exchanged. The firm has a market cap of $8.94 billion, a PE ratio of 16.54 and a beta of 0.98. Torchmark Corporation has a one year low of $62.86 and a one year high of $79.90. The firm has a 50 day moving average price of $78.23 and a 200 day moving average price of $76.93.
Torchmark Corporation (NYSE:TMK) last released its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.02. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $1.11 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Torchmark Corporation will post $4.75 earnings per share for the current year.
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In other Torchmark Corporation news, insider Steven John Dichiaro sold 4,500 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $75.08, for a total transaction of $337,860.00. Following the completion of the sale, the insider now directly owns 12,860 shares in the company, valued at $965,528.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Arvelia Bowie sold 16,875 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $78.45, for a total value of $1,323,843.75. Following the sale, the vice president now owns 17,941 shares of the company’s stock, valued at $1,407,471.45. The disclosure for this sale can be found here. Insiders have sold 142,321 shares of company stock valued at $11,175,453 over the last 90 days. 3.79% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in TMK. Balentine LLC raised its stake in shares of Torchmark Corporation by 5.7% in the second quarter. Balentine LLC now owns 1,855 shares of the insurance provider’s stock valued at $115,000 after buying an additional 100 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Torchmark Corporation by 2,706.2% in the second quarter. Glenmede Trust Co. NA now owns 2,273 shares of the insurance provider’s stock valued at $139,000 after buying an additional 2,192 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Torchmark Corporation by 2.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,427 shares of the insurance provider’s stock valued at $187,000 after buying an additional 69 shares in the last quarter. SRB Corp raised its stake in shares of Torchmark Corporation by 3.6% in the third quarter. SRB Corp now owns 2,470 shares of the insurance provider’s stock valued at $158,000 after buying an additional 86 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of Torchmark Corporation by 539.3% in the first quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock valued at $193,000 after buying an additional 2,114 shares in the last quarter. Institutional investors own 71.92% of the company’s stock.
Torchmark Corporation Company Profile
Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.
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