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.
TRADEMARK VIOLATION NOTICE: This story was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.com-unik.info/2017/10/30/torchmark-corporation-tmk-price-target-raised-to-85-00.html.
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.
What are top analysts saying about Torchmark Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Torchmark Corporation and related companies.