Torchmark Corporation (TMK) Receives $70.40 Consensus PT from Analysts
Shares of Torchmark Corporation (NYSE:TMK) have been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $70.40.
Several research analysts have recently weighed in on TMK shares. BidaskClub raised Torchmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised Torchmark Corporation from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Tuesday, August 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $78.00 price objective on shares of Torchmark Corporation in a research report on Thursday, August 3rd.
Shares of Torchmark Corporation (NYSE TMK) traded down 0.11% during midday trading on Friday, hitting $80.32. The stock had a trading volume of 263,374 shares. Torchmark Corporation has a one year low of $62.86 and a one year high of $80.60. The company has a market capitalization of $9.34 billion, a PE ratio of 17.28 and a beta of 1.00. The firm’s 50-day moving average is $77.73 and its 200 day moving average is $77.03.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.02. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. Torchmark Corporation’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. Equities analysts expect that Torchmark Corporation will post $4.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.75%. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
In related news, VP Arvelia Bowie sold 16,875 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 17,941 shares of the company’s stock, valued at $1,407,471.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Ingram sold 1,827 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $78.66, for a total value of $143,711.82. The disclosure for this sale can be found here. Insiders have sold 137,821 shares of company stock valued at $10,837,593 over the last ninety days. 3.79% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Torchmark Corporation by 1.0% during the second quarter. Vanguard Group Inc. now owns 12,040,805 shares of the insurance provider’s stock valued at $921,122,000 after purchasing an additional 122,391 shares during the last quarter. BlackRock Inc. boosted its position in Torchmark Corporation by 2,764.7% during the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock valued at $576,118,000 after purchasing an additional 7,217,094 shares during the last quarter. State Street Corp boosted its position in Torchmark Corporation by 2.6% during the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock valued at $450,848,000 after purchasing an additional 150,546 shares during the last quarter. Janus Henderson Group PLC boosted its position in Torchmark Corporation by 14,667.6% during the second quarter. Janus Henderson Group PLC now owns 2,531,462 shares of the insurance provider’s stock valued at $193,657,000 after purchasing an additional 2,514,320 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Torchmark Corporation by 1.2% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,023,143 shares of the insurance provider’s stock valued at $156,033,000 after purchasing an additional 23,100 shares during the last quarter. 71.93% of the stock is owned by hedge funds and other institutional investors.
About Torchmark Corporation
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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