Torchmark (NYSE:TMK) had its target price cut by Morgan Stanley from $84.00 to $82.00 in a research report sent to investors on Thursday. They currently have an underweight rating on the insurance provider’s stock.
Several other analysts have also weighed in on the stock. Bank of America began coverage on shares of Torchmark in a research note on Monday, March 26th. They set a buy rating and a $97.00 target price for the company. Zacks Investment Research lowered shares of Torchmark from a buy rating to a hold rating in a research note on Monday, March 12th. UBS began coverage on shares of Torchmark in a research note on Friday, March 2nd. They set a sell rating and a $83.00 target price for the company. Wells Fargo set a $78.00 target price on shares of Torchmark and gave the company a sell rating in a research note on Wednesday, February 7th. Finally, ValuEngine upgraded shares of Torchmark from a hold rating to a buy rating in a research note on Friday, February 2nd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Torchmark currently has an average rating of Hold and a consensus target price of $84.56.
TMK stock opened at $82.98 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.06 and a quick ratio of 0.06. Torchmark has a 1-year low of $73.99 and a 1-year high of $93.60. The firm has a market cap of $9,466.52, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.30 and a beta of 0.95.
Torchmark (NYSE:TMK) last released its earnings results on Wednesday, February 7th. The insurance provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.01. Torchmark had a net margin of 34.99% and a return on equity of 10.81%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. equities research analysts predict that Torchmark will post 6.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 3rd will be given a dividend of $0.16 per share. The ex-dividend date is Monday, April 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.77%. This is a positive change from Torchmark’s previous quarterly dividend of $0.15. Torchmark’s dividend payout ratio is currently 13.28%.
In other news, Chairman Gary L. Coleman sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $84.08, for a total transaction of $420,400.00. Following the completion of the transaction, the chairman now owns 654,547 shares in the company, valued at $55,034,311.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gary L. Coleman sold 24,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $86.25, for a total transaction of $2,070,000.00. The disclosure for this sale can be found here. Insiders have sold 78,275 shares of company stock valued at $6,796,120 in the last 90 days. Insiders own 3.68% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in TMK. Legal & General Group Plc grew its position in shares of Torchmark by 6.5% during the third quarter. Legal & General Group Plc now owns 632,911 shares of the insurance provider’s stock worth $50,690,000 after acquiring an additional 38,361 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Torchmark by 8.8% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,798 shares of the insurance provider’s stock worth $705,000 after purchasing an additional 715 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Torchmark by 2.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 513,761 shares of the insurance provider’s stock worth $41,148,000 after purchasing an additional 14,040 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in Torchmark by 9.3% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 11,855 shares of the insurance provider’s stock worth $949,000 after purchasing an additional 1,006 shares during the period. Finally, Invictus RG acquired a new stake in Torchmark in the third quarter worth about $165,000. Institutional investors and hedge funds own 74.75% of the company’s stock.
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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.
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