Torchmark Corporation (TMK) Price Target Raised to $85.00

Torchmark Corporation (NYSE:TMK) had its price target boosted by SunTrust Banks, Inc. from $75.00 to $85.00 in a research note released on Thursday. SunTrust Banks, Inc. currently has a hold rating on the insurance provider’s stock. SunTrust Banks also issued estimates for Torchmark Corporation’s Q4 2017 earnings at $1.22 EPS, FY2017 earnings at $4.80 EPS, Q3 2018 earnings at $1.32 EPS, Q4 2018 earnings at $1.32 EPS and FY2018 earnings at $5.15 EPS.

Several other research analysts have also recently issued reports on TMK. Goldman Sachs Group, Inc. (The) assumed coverage on Torchmark Corporation in a report on Wednesday, October 18th. They issued a neutral rating and a $83.00 price target on the stock. BidaskClub cut Torchmark Corporation from a buy rating to a hold rating in a report on Saturday, August 19th. Barclays PLC upped their price target on Torchmark Corporation from $65.00 to $67.00 and gave the company an underweight rating in a report on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $78.00 price target on shares of Torchmark Corporation in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised Torchmark Corporation from a hold rating to a buy rating and set a $95.00 price target on the stock in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Torchmark Corporation currently has a consensus rating of Hold and an average price target of $78.14.

Torchmark Corporation (NYSE:TMK) opened at 84.96 on Thursday. The stock has a market cap of $9.88 billion, a P/E ratio of 18.27 and a beta of 1.00. The firm’s 50-day moving average price is $80.36 and its 200 day moving average price is $77.75. Torchmark Corporation has a 52-week low of $62.86 and a 52-week high of $86.50.

Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Torchmark Corporation had a return on equity of 11.83% and a net margin of 13.80%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 earnings per share. Equities analysts predict that Torchmark Corporation will post $4.79 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, October 5th. Torchmark Corporation’s dividend payout ratio (DPR) is currently 12.77%.

In other Torchmark Corporation news, Director Charles E. Adair sold 9,244 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $78.89, for a total transaction of $729,259.16. Following the sale, the director now directly owns 20,613 shares of the company’s stock, valued at approximately $1,626,159.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vern D. Herbel sold 27,500 shares of the business’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 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 three months, insiders have sold 177,839 shares of company stock worth $14,668,836. Company insiders own 3.79% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Palisade Asset Management LLC raised its stake in Torchmark Corporation by 96.9% during the 3rd quarter. Palisade Asset Management LLC now owns 15,000 shares of the insurance provider’s stock valued at $1,201,000 after purchasing an additional 7,383 shares during the period. Pictet Asset Management Ltd. raised its stake in Torchmark Corporation by 20.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 129,908 shares of the insurance provider’s stock valued at $10,404,000 after purchasing an additional 21,900 shares during the period. First Quadrant L P CA raised its stake in Torchmark Corporation by 3.0% during the 3rd quarter. First Quadrant L P CA now owns 390,927 shares of the insurance provider’s stock valued at $31,309,000 after purchasing an additional 11,508 shares during the period. Aperio Group LLC raised its stake in Torchmark Corporation by 18.9% during the 3rd quarter. Aperio Group LLC now owns 131,756 shares of the insurance provider’s stock valued at $10,552,000 after purchasing an additional 20,929 shares during the period. Finally, First Trust Advisors LP raised its stake in Torchmark Corporation by 9.5% during the 3rd quarter. First Trust Advisors LP now owns 162,724 shares of the insurance provider’s stock valued at $13,033,000 after purchasing an additional 14,109 shares during the period. 72.21% 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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