BidaskClub downgraded shares of Torchmark Corporation (NYSE:TMK) from a buy rating to a hold rating in a research report report published on Monday, July 24th.
A number of other brokerages also recently issued reports on TMK. 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. ValuEngine raised shares of Torchmark Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $75.00 price objective on shares of Torchmark Corporation in a report on Friday, April 21st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Torchmark Corporation has a consensus rating of Hold and an average target price of $73.33.
Torchmark Corporation (NYSE:TMK) opened at 76.61 on Monday. The stock has a market capitalization of $8.91 billion, a P/E ratio of 16.48 and a beta of 0.98. The stock has a 50 day moving average price of $78.21 and a 200-day moving average price of $76.81. Torchmark Corporation has a 1-year low of $62.41 and a 1-year high of $79.90.
Torchmark Corporation (NYSE:TMK) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 earnings per share. Equities research analysts expect that Torchmark Corporation will post $4.75 EPS for the current year.
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In other Torchmark Corporation news, insider Steven John Dichiaro sold 4,500 shares of the company’s stock in a transaction 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 directly owns 12,860 shares of the company’s stock, valued at $965,528.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vern D. Herbel sold 27,500 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $78.62, for a total transaction of $2,162,050.00. Following the completion of the sale, the executive vice president now directly owns 56,943 shares in the company, valued at $4,476,858.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,321 shares of company stock worth $11,175,453. 3.79% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. raised its stake in 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 raised its stake in 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. purchased a new stake in Torchmark Corporation during the first quarter valued at about $205,000. Aull & Monroe Investment Management Corp purchased a new stake in Torchmark Corporation during the first quarter valued at about $206,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new stake in Torchmark Corporation during the first quarter valued at about $206,000. 74.84% of the stock is currently owned by institutional investors.
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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