Torchmark Co. (NYSE:TMK)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $79.37 and last traded at $80.15, with a volume of 22508 shares changing hands. The stock had previously closed at $82.22.
TMK has been the topic of several recent research reports. Goldman Sachs Group cut Torchmark from a “neutral” rating to a “sell” rating and dropped their price target for the company from $92.00 to $78.00 in a research report on Monday, September 10th. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Thursday, October 4th. SunTrust Banks dropped their price target on Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Finally, Morgan Stanley boosted their price target on Torchmark from $81.00 to $83.00 and gave the company an “underweight” rating in a research report on Tuesday, November 13th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $85.86.
The stock has a market cap of $9.17 billion, a PE ratio of 16.80, a PEG ratio of 0.98 and a beta of 0.86. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.25.
Torchmark (NYSE:TMK) last released its earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.06. Torchmark had a return on equity of 11.70% and a net margin of 36.42%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. As a group, research analysts forecast that Torchmark Co. will post 6.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Friday, January 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.79%. The ex-dividend date is Thursday, January 3rd. Torchmark’s payout ratio is 13.28%.
In other Torchmark news, insider John Henry Rogers, Jr. sold 1,875 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $88.16, for a total transaction of $165,300.00. Following the transaction, the insider now owns 1,875 shares in the company, valued at approximately $165,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Frank M. Svoboda sold 12,375 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $87.70, for a total value of $1,085,287.50. Following the transaction, the chief financial officer now owns 105,828 shares in the company, valued at approximately $9,281,115.60. The disclosure for this sale can be found here. Insiders have sold a total of 14,461 shares of company stock worth $1,268,301 in the last quarter. 3.68% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC purchased a new stake in shares of Torchmark during the 2nd quarter worth approximately $101,000. Braun Bostich & Associates Inc. boosted its stake in shares of Torchmark by 1,298.9% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,287 shares of the insurance provider’s stock worth $105,000 after acquiring an additional 1,195 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Torchmark by 22,414.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,576 shares of the insurance provider’s stock worth $128,000 after acquiring an additional 1,569 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Torchmark by 118.8% during the 3rd quarter. Parallel Advisors LLC now owns 1,726 shares of the insurance provider’s stock worth $150,000 after acquiring an additional 937 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Torchmark during the 3rd quarter worth approximately $194,000. Institutional investors own 74.52% of the company’s stock.
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Torchmark Company Profile (NYSE:TMK)
Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.
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