Torchmark (TMK) Given New $84.00 Price Target at SunTrust Banks

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.



Torchmark (NYSE:TMK) last posted its quarterly earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.06. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. Torchmark had a return on equity of 11.53% and a net margin of 36.42%. Equities analysts predict that Torchmark will post 6.14 EPS for the current year.

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.

About Torchmark

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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Analyst Recommendations for Torchmark (NYSE:TMK)

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