Torchmark Corporation (NYSE:TMK) – Research analysts at SunTrust Banks increased their Q1 2018 earnings per share (EPS) estimates for Torchmark in a research report issued on Thursday. SunTrust Banks analyst M. Hughes now expects that the insurance provider will post earnings per share of $1.44 for the quarter, up from their prior forecast of $1.24. SunTrust Banks has a “Hold” rating and a $85.00 price objective on the stock. SunTrust Banks also issued estimates for Torchmark’s Q2 2018 earnings at $1.49 EPS, Q3 2018 earnings at $1.53 EPS, Q4 2018 earnings at $1.54 EPS, Q1 2019 earnings at $1.56 EPS, Q2 2019 earnings at $1.60 EPS, Q3 2019 earnings at $1.65 EPS, Q4 2019 earnings at $1.65 EPS and FY2019 earnings at $6.47 EPS.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Thursday, October 26th. ValuEngine upgraded shares of Torchmark from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $83.00 target price on shares of Torchmark in a research report on Friday, November 10th. 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 target price for the company. Finally, Wells Fargo & Co set a $78.00 target price on shares of Torchmark and gave the company a “sell” rating in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Torchmark currently has an average rating of “Hold” and an average price target of $83.17.
Torchmark (NYSE:TMK) last announced its earnings results on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.01. Torchmark had a net margin of 34.99% and a return on equity of 11.49%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business posted $1.15 earnings per share. Torchmark’s revenue for the quarter was up 8.4% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Torchmark by 1.7% during the fourth quarter. BlackRock Inc. now owns 7,738,856 shares of the insurance provider’s stock worth $701,992,000 after acquiring an additional 131,170 shares in the last quarter. Boston Partners increased its stake in shares of Torchmark by 0.9% in the third quarter. Boston Partners now owns 1,884,492 shares of the insurance provider’s stock worth $150,929,000 after buying an additional 16,795 shares during the period. SPF Beheer BV increased its stake in shares of Torchmark by 6.4% in the third quarter. SPF Beheer BV now owns 906,971 shares of the insurance provider’s stock worth $72,639,000 after buying an additional 54,934 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Torchmark by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 710,811 shares of the insurance provider’s stock worth $54,377,000 after buying an additional 24,349 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Torchmark by 2.8% in the fourth quarter. Schroder Investment Management Group now owns 702,432 shares of the insurance provider’s stock worth $63,718,000 after buying an additional 19,274 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.
In other Torchmark news, insider Kenneth J. Matson sold 28,500 shares of Torchmark stock in a transaction that occurred on 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 $1,367,235.36. 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 Torchmark 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 transaction, the insider now directly owns 65,685 shares in the company, valued at $5,953,688.40. The disclosure for this sale can be found here. Insiders have sold 71,250 shares of company stock worth $6,466,133 over the last three months. Insiders own 3.79% of the company’s stock.
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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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