Torchmark Co. (TMK) Receives $86.00 Consensus Target Price from Brokerages

Torchmark Co. (NYSE:TMK) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $86.00.

Separately, Zacks Investment Research lowered Torchmark from a “buy” rating to a “sell” rating in a report on Wednesday, April 3rd.

Shares of TMK opened at $87.50 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.06 and a quick ratio of 0.06. Torchmark has a one year low of $69.68 and a one year high of $91.28. The firm has a market capitalization of $9.67 billion, a P/E ratio of 14.27, a PEG ratio of 1.66 and a beta of 1.01.

Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.05. Torchmark had a return on equity of 13.06% and a net margin of 16.37%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. Torchmark’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts predict that Torchmark will post 6.69 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 0.79%. Torchmark’s payout ratio is currently 11.26%.

In related news, Chairman Gary L. Coleman sold 13,000 shares of Torchmark stock in a transaction on Friday, February 15th. The stock was sold at an average price of $83.10, for a total value of $1,080,300.00. Following the completion of the sale, the chairman now owns 662,547 shares of the company’s stock, valued at $55,057,655.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Ingram sold 290 shares of Torchmark stock in a transaction on Monday, April 29th. The shares were sold at an average price of $87.85, for a total value of $25,476.50. The disclosure for this sale can be found here. Insiders sold 214,514 shares of company stock valued at $18,276,564 in the last ninety days. 3.64% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMK. The Manufacturers Life Insurance Company lifted its position in Torchmark by 6.1% during the third quarter. The Manufacturers Life Insurance Company now owns 106,076 shares of the insurance provider’s stock valued at $9,195,000 after purchasing an additional 6,129 shares in the last quarter. Pacer Advisors Inc. lifted its position in Torchmark by 14.3% during the third quarter. Pacer Advisors Inc. now owns 5,697 shares of the insurance provider’s stock valued at $494,000 after purchasing an additional 714 shares in the last quarter. Kentucky Retirement Systems purchased a new position in Torchmark during the third quarter valued at $583,000. Legal & General Group Plc lifted its position in Torchmark by 15.5% during the third quarter. Legal & General Group Plc now owns 752,839 shares of the insurance provider’s stock valued at $65,251,000 after purchasing an additional 100,946 shares in the last quarter. Finally, Vanguard Group Inc lifted its position in Torchmark by 1.7% during the third quarter. Vanguard Group Inc now owns 12,664,337 shares of the insurance provider’s stock valued at $1,097,870,000 after purchasing an additional 210,422 shares in the last quarter. Institutional investors own 76.68% of the company’s stock.

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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