Torchmark Corporation (NYSE:TMK) has been given a consensus recommendation of “Hold” by the ten research firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $73.00.
Several research analysts recently weighed in on TMK shares. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Monday, June 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $75.00 target price on shares of Torchmark Corporation in a research report on Friday, April 21st. ValuEngine raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st.
Shares of Torchmark Corporation (NYSE:TMK) opened at 79.23 on Tuesday. Torchmark Corporation has a 52 week low of $60.92 and a 52 week high of $79.90. The firm has a 50-day moving average price of $77.81 and a 200-day moving average price of $76.64. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 17.02 and a beta of 0.98.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.70% and a net margin of 13.96%. Torchmark Corporation’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 earnings per share. On average, equities analysts expect that Torchmark Corporation will post $4.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Wednesday, July 5th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.76%. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.88%.
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In other news, 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 transaction of $1,323,843.75. Following the completion of the sale, the vice president now owns 17,941 shares in the company, valued at approximately $1,407,471.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven John Dichiaro sold 4,500 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $75.08, for a total value of $337,860.00. Following the sale, the insider now owns 12,860 shares of the company’s stock, valued at approximately $965,528.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,577 shares of company stock valued at $7,256,884. 3.79% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. increased 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 during the last quarter. Global X Management Co. LLC increased 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 during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Torchmark Corporation during the first quarter valued at $205,000. Dai Ichi Life Insurance Company Ltd acquired a new stake in shares of Torchmark Corporation during the first quarter valued at $206,000. Finally, Aull & Monroe Investment Management Corp acquired a new stake in shares of Torchmark Corporation during the first quarter valued at $206,000. Hedge funds and other institutional investors own 74.74% 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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