Torchmark Co. (TMK) Shares Rating Boosted by ValuEngine

Torchmark Co. (TMK) Shares Rating Boosted by ValuEngine

Torchmark Co. (NYSE:TMK) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Thursday, June 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $75.00 target price on shares of Torchmark in a report on Friday, May 26th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $67.44.

Shares of Torchmark (TMK) opened at 75.86 on Friday. The company’s 50 day moving average is $75.91 and its 200-day moving average is $75.22. The company has a market capitalization of $8.87 billion, a PE ratio of 16.48 and a beta of 0.99. Torchmark has a 52 week low of $57.49 and a 52 week high of $79.53.

Torchmark (NYSE:TMK) last announced its earnings results on Wednesday, April 19th. The insurance provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.14 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Torchmark had a return on equity of 11.52% and a net margin of 13.95%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, analysts expect that Torchmark will post $4.70 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, June 30th. Torchmark’s dividend payout ratio is 12.42%.

In related news, Chairman Gary L. Coleman sold 37,500 shares of the firm’s stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $75.93, for a total value of $2,847,375.00. Following the transaction, the chairman now owns 666,875 shares in the company, valued at $50,635,818.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven John Dichiaro sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $75.08, for a total value of $337,860.00. Following the completion of the transaction, the insider now owns 12,860 shares in the company, valued at approximately $965,528.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,750 shares of company stock worth $5,555,033. 3.96% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. boosted its position in Torchmark 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 in the last quarter. SRB Corp boosted its position in Torchmark by 3.6% in the third quarter. SRB Corp now owns 2,470 shares of the insurance provider’s stock valued at $158,000 after buying an additional 86 shares in the last quarter. Global X Management Co. LLC boosted its position in Torchmark 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 in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Torchmark during the first quarter valued at about $205,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new position in Torchmark during the first quarter valued at about $206,000. Institutional investors and hedge funds own 73.68% of the company’s stock.

Torchmark 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TMK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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