Torchmark Corporation (TMK) Forecasted to Post FY2018 Earnings of $6.00 Per Share

Torchmark Corporation (NYSE:TMK) – Langen Mcalenn upped their FY2018 earnings estimates for shares of Torchmark in a research note issued on Tuesday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will earn $6.00 per share for the year, up from their prior forecast of $5.20.

Torchmark (NYSE:TMK) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. Torchmark had a return on equity of 11.60% and a net margin of 13.80%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year.

Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Thursday, October 26th. ValuEngine raised Torchmark from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $83.00 price objective on shares of Torchmark in a research note on Friday, November 10th. SunTrust Banks upped their price objective on Torchmark from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Goldman Sachs Group assumed coverage on Torchmark in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Torchmark has a consensus rating of “Hold” and a consensus price target of $81.67.

Torchmark (NYSE TMK) opened at $92.15 on Friday. Torchmark has a 52-week low of $72.59 and a 52-week high of $93.34. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $10,581.85, a P/E ratio of 19.61, a P/E/G ratio of 2.20 and a beta of 1.01.

Several hedge funds and other institutional investors have recently made changes to their positions in TMK. Tiedemann Wealth Management LLC increased its stake in shares of Torchmark by 8.0% during the third quarter. Tiedemann Wealth Management LLC now owns 16,147 shares of the insurance provider’s stock worth $127,000 after purchasing an additional 1,201 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Torchmark by 63.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock valued at $144,000 after purchasing an additional 700 shares in the last quarter. Invictus RG acquired a new stake in shares of Torchmark in the 3rd quarter valued at $165,000. Assetmark Inc. boosted its holdings in shares of Torchmark by 7,975.0% in the 3rd quarter. Assetmark Inc. now owns 2,261 shares of the insurance provider’s stock valued at $181,000 after purchasing an additional 2,233 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Torchmark in the 3rd quarter valued at $205,000. Institutional investors own 72.63% of the company’s stock.

In other Torchmark news, insider Roger C. Smith sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $84.50, for a total value of $2,535,000.00. Following the sale, the insider now owns 65,685 shares in the company, valued at $5,550,382.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP W Michael Pressley sold 52,500 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $83.93, for a total value of $4,406,325.00. Following the completion of the sale, the executive vice president now owns 105,948 shares in the company, valued at approximately $8,892,215.64. The disclosure for this sale can be found here. Insiders sold 234,335 shares of company stock worth $20,167,546 in the last 90 days. Corporate insiders own 3.79% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.60 annualized dividend and a yield of 0.65%. Torchmark’s dividend payout ratio is 12.77%.

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About Torchmark

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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