Torchmark Corporation (TMK) Price Target Raised to $85.00

Torchmark Corporation (NYSE:TMK) had its price objective increased by SunTrust Banks, Inc. from $75.00 to $85.00 in a research report report published on Thursday, October 26th. The brokerage currently has a hold rating on the insurance provider’s stock. SunTrust Banks also issued estimates for Torchmark Corporation’s Q4 2017 earnings at $1.22 EPS, FY2017 earnings at $4.80 EPS, Q3 2018 earnings at $1.32 EPS, Q4 2018 earnings at $1.32 EPS and FY2018 earnings at $5.15 EPS.

Several other equities analysts have also weighed in on TMK. Zacks Investment Research lowered shares of Torchmark Corporation from a hold rating to a sell rating in a report on Thursday, July 6th. BidaskClub raised shares of Torchmark Corporation from a hold rating to a buy rating in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $78.00 target price on shares of Torchmark Corporation in a research note on Thursday, August 3rd. Finally, Barclays PLC lifted their target price on shares of Torchmark Corporation from $65.00 to $67.00 and gave the stock an underweight rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Torchmark Corporation has an average rating of Hold and a consensus price target of $78.86.

Shares of Torchmark Corporation (TMK) traded up $0.43 during trading on Thursday, reaching $84.69. 441,000 shares of the company’s stock traded hands, compared to its average volume of 435,522. Torchmark Corporation has a one year low of $69.14 and a one year high of $86.50. The company has a market cap of $9,820.00, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.22.

Torchmark Corporation (NYSE:TMK) last announced its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a net margin of 13.80% and a return on equity of 11.60%. Torchmark Corporation’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. research analysts predict that Torchmark Corporation will post 4.8 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.71%. Torchmark Corporation’s dividend payout ratio (DPR) is 12.93%.

In other Torchmark Corporation news, Director Paul J. Zucconi sold 595 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $85.07, for a total value of $50,616.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP W Michael Pressley sold 52,500 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $83.93, for a total value of $4,406,325.00. Following the completion of the transaction, the executive vice president now owns 105,948 shares of the company’s stock, valued at approximately $8,892,215.64. The disclosure for this sale can be found here. Insiders sold 163,085 shares of company stock valued at $13,701,414 over the last three months. Corporate insiders own 3.79% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Girard Partners LTD. increased its position in shares of Torchmark Corporation by 0.3% in the second quarter. Girard Partners LTD. now owns 3,844 shares of the insurance provider’s stock valued at $294,000 after buying an additional 12 shares in the last quarter. Wetherby Asset Management Inc. increased its position in shares of Torchmark Corporation by 0.6% in the second quarter. Wetherby Asset Management Inc. now owns 4,346 shares of the insurance provider’s stock valued at $332,000 after buying an additional 27 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Torchmark Corporation by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 10,455 shares of the insurance provider’s stock valued at $800,000 after buying an additional 59 shares in the last quarter. Sentry Investment Management LLC increased its position in shares of Torchmark Corporation by 2.0% in the second quarter. Sentry Investment Management LLC now owns 4,750 shares of the insurance provider’s stock valued at $363,000 after buying an additional 91 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Torchmark Corporation by 3.0% in the second quarter. Thrivent Financial For Lutherans now owns 4,140 shares of the insurance provider’s stock valued at $317,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 72.69% of the company’s stock.

Torchmark Corporation Company Profile

Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.

Analyst Recommendations for Torchmark Corporation (NYSE:TMK)

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