Torchmark (NYSE:TMK) had its price target lowered by SunTrust Banks from $89.00 to $84.00 in a research note released on Monday. The firm currently has a hold rating on the insurance provider’s stock.
Several other research analysts also recently weighed in on the company. Goldman Sachs Group downgraded Torchmark from a neutral rating to a sell rating and cut their price target for the stock from $92.00 to $78.00 in a research note on Monday, September 10th. Zacks Investment Research downgraded Torchmark from a buy rating to a hold rating in a research note on Monday, October 1st. Finally, Morgan Stanley increased their price target on Torchmark from $80.00 to $81.00 and gave the stock an underweight rating in a research note on Thursday, July 26th. Four analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $85.25.
Shares of TMK stock traded up $0.37 on Monday, hitting $83.41. 80,350 shares of the stock were exchanged, compared to its average volume of 654,987. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.98 and a beta of 0.90. Torchmark has a one year low of $80.34 and a one year high of $93.60.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be paid a $0.16 dividend. The ex-dividend date is Thursday, October 4th. This represents a $0.64 annualized dividend and a yield of 0.77%. Torchmark’s dividend payout ratio is currently 13.28%.
In other Torchmark news, EVP Robert Brian Mitchell sold 45,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $87.84, for a total value of $3,952,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bill Leavell sold 187,500 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $88.10, for a total value of $16,518,750.00. Following the completion of the transaction, the insider now owns 18,750 shares of the company’s stock, valued at approximately $1,651,875. The disclosure for this sale can be found here. In the last 90 days, insiders sold 367,243 shares of company stock valued at $32,395,055. 3.68% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System boosted its stake in Torchmark by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 82,927 shares of the insurance provider’s stock worth $7,189,000 after purchasing an additional 1,043 shares during the period. Conning Inc. purchased a new stake in shares of Torchmark in the 3rd quarter valued at about $202,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Torchmark by 6.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 162,439 shares of the insurance provider’s stock valued at $14,081,000 after acquiring an additional 9,661 shares in the last quarter. Oakworth Capital Inc. raised its holdings in shares of Torchmark by 5.6% in the 3rd quarter. Oakworth Capital Inc. now owns 25,046 shares of the insurance provider’s stock valued at $2,171,000 after acquiring an additional 1,330 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Torchmark by 3.3% in the 3rd quarter. First Trust Advisors LP now owns 405,279 shares of the insurance provider’s stock valued at $35,134,000 after acquiring an additional 12,890 shares in the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.
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.
Featured Story: How to Calculate Compound Annual Growth Rate (CAGR)
Receive News & Ratings for Torchmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark and related companies with MarketBeat.com's FREE daily email newsletter.