Torchmark Corporation (NYSE:TMK) – Research analysts at Langen Mcalenn boosted their Q1 2018 earnings per share estimates for shares of Torchmark in a research report issued to clients and investors on Friday. Langen Mcalenn analyst R. Glasspiegel now expects that the insurance provider will post earnings per share of $1.46 for the quarter, up from their prior estimate of $1.45. Langen Mcalenn also issued estimates for Torchmark’s Q2 2018 earnings at $1.53 EPS, Q3 2018 earnings at $1.54 EPS, Q4 2018 earnings at $1.56 EPS, FY2018 earnings at $6.05 EPS, Q1 2019 earnings at $1.57 EPS, Q2 2019 earnings at $1.64 EPS, Q3 2019 earnings at $1.67 EPS, Q4 2019 earnings at $1.67 EPS and FY2019 earnings at $6.55 EPS.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Torchmark from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Thursday, October 26th. ValuEngine raised shares of Torchmark from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $83.00 price target on shares of Torchmark in a research report on Friday, November 10th. 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 research report on Thursday, October 26th. Finally, Goldman Sachs Group started coverage on shares of Torchmark in a research report on Wednesday, October 18th. They set a “neutral” rating and a $83.00 price target for the company. Two equities 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. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.17.
Torchmark (NYSE:TMK) last posted its earnings results on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Torchmark had a net margin of 34.99% and a return on equity of 11.49%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS.
Institutional investors have recently added to or reduced their stakes in the stock. Tiedemann Wealth Management LLC increased its holdings in Torchmark by 8.0% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 16,147 shares of the insurance provider’s stock worth $127,000 after acquiring an additional 1,201 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Torchmark by 63.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 700 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in Torchmark in the 4th quarter worth approximately $149,000. Invictus RG bought a new position in Torchmark in the 3rd quarter worth approximately $165,000. Finally, Cerebellum GP LLC bought a new position in Torchmark in the 4th quarter worth approximately $173,000. 73.15% of the stock is owned by institutional investors.
In related news, EVP James Matthew Darden sold 12,750 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $90.89, for a total value of $1,158,847.50. Following the completion of the sale, the executive vice president now directly owns 16,500 shares of the company’s stock, valued at approximately $1,499,685. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Roger C. Smith sold 30,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $90.64, for a total transaction of $2,719,200.00. Following the completion of the sale, the insider now directly owns 65,685 shares of the company’s stock, valued at $5,953,688.40. The disclosure for this sale can be found here. Insiders sold a total of 71,250 shares of company stock valued at $6,466,133 over the last three months. 3.79% of the stock is currently owned by insiders.
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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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