Wells Fargo & Co Analysts Give Torchmark (TMK) a $78.00 Price Target

Torchmark (NYSE:TMK) has been given a $78.00 price objective by investment analysts at Wells Fargo & Co in a report issued on Wednesday, February 7th. The firm presently has a “sell” rating on the insurance provider’s stock. Wells Fargo & Co’s price objective would indicate a potential downside of 9.42% from the company’s current price.

A number of other equities research analysts have also recently issued reports on TMK. ValuEngine upgraded shares of Torchmark from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Goldman Sachs Group began coverage on shares of Torchmark in a report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 price target for the company. SunTrust Banks upped their price target on shares of Torchmark from $75.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $83.00 price target on shares of Torchmark in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Torchmark currently has an average rating of “Hold” and an average target price of $83.17.

Torchmark (NYSE TMK) traded down $0.19 during mid-day trading on Wednesday, reaching $86.11. 332,349 shares of the company’s stock were exchanged, compared to its average volume of 697,205. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06. Torchmark has a one year low of $73.99 and a one year high of $93.60. The company has a market capitalization of $9,702.15, a PE ratio of 7.02, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93.

Torchmark (NYSE:TMK) last released its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.01. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $1.15 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. equities analysts forecast that Torchmark will post 6.03 earnings per share for the current fiscal year.

In other news, EVP James Matthew Darden sold 12,750 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $90.89, for a total transaction of $1,158,847.50. Following the completion of the transaction, the executive vice president now owns 16,500 shares of the company’s stock, valued at $1,499,685. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth J. Matson sold 28,500 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $90.81, for a total transaction of $2,588,085.00. Following the transaction, the insider now directly owns 15,056 shares of the company’s stock, valued at approximately $1,367,235.36. The disclosure for this sale can be found here. Insiders have sold 71,250 shares of company stock valued at $6,466,133 in the last ninety days. 3.79% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Atlantic Trust Group LLC raised its position in Torchmark by 6.5% in the third quarter. Atlantic Trust Group LLC now owns 53,358 shares of the insurance provider’s stock worth $4,274,000 after purchasing an additional 3,245 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Torchmark by 13.0% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,860 shares of the insurance provider’s stock worth $2,792,000 after purchasing an additional 4,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Torchmark by 6.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,592 shares of the insurance provider’s stock worth $1,889,000 after purchasing an additional 1,518 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Torchmark by 9.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,448 shares of the insurance provider’s stock worth $1,397,000 after purchasing an additional 1,446 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Torchmark in the third quarter worth about $447,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

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Torchmark 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.

Analyst Recommendations for Torchmark (NYSE:TMK)

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