Brokerages Set Torchmark Co. (NYSE:TMK) Target Price at $86.50

Torchmark Co. (NYSE:TMK) has received an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $86.50.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Torchmark from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Tuesday, May 21st. Morgan Stanley increased their price target on Torchmark from $84.00 to $86.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th.

In related news, EVP Vern D. Herbel sold 50,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the completion of the transaction, the executive vice president now directly owns 50,000 shares in the company, valued at approximately $4,612,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Frank M. Svoboda sold 11,250 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $91.85, for a total value of $1,033,312.50. Following the transaction, the chief financial officer now owns 117,783 shares of the company’s stock, valued at $10,818,368.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,924 shares of company stock valued at $14,140,749. Company insiders own 3.64% of the company’s stock.



Institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB boosted its holdings in Torchmark by 45.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 27,530 shares of the insurance provider’s stock valued at $2,256,000 after acquiring an additional 8,600 shares during the period. Sumitomo Life Insurance Co. boosted its holdings in Torchmark by 4.1% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 16,160 shares of the insurance provider’s stock valued at $1,446,000 after acquiring an additional 639 shares during the period. Andra AP fonden purchased a new position in Torchmark during the 1st quarter valued at about $7,818,000. Municipal Employees Retirement System of Michigan purchased a new position in Torchmark during the 4th quarter valued at about $208,000. Finally, First Republic Investment Management Inc. boosted its holdings in Torchmark by 4.9% during the 1st quarter. First Republic Investment Management Inc. now owns 11,058 shares of the insurance provider’s stock valued at $906,000 after acquiring an additional 519 shares during the period. Institutional investors own 75.76% of the company’s stock.

Shares of TMK traded down $3.43 during midday trading on Thursday, reaching $85.07. The company had a trading volume of 511,406 shares, compared to its average volume of 500,082. Torchmark has a 1-year low of $69.68 and a 1-year high of $93.26. The stock has a market cap of $9.35 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.68 and a beta of 0.95. The firm has a 50 day simple moving average of $88.35 and a 200-day simple moving average of $86.08. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22.

Torchmark (NYSE:TMK) last issued its earnings results on Wednesday, July 24th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.02. Torchmark had a return on equity of 12.90% and a net margin of 16.26%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $1.51 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Torchmark will post 6.73 earnings per share for the current fiscal year.

Torchmark Company Profile

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, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.

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