Keefe, Bruyette & Woods restated their hold rating on shares of Torchmark Corporation (NYSE:TMK) in a report issued on Sunday, October 8th. They currently have a $78.00 price objective on the insurance provider’s stock.
Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Torchmark Corporation from a buy rating to a hold rating in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Torchmark Corporation from a buy rating to a hold rating in a research report on Monday, September 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $75.83.
Shares of Torchmark Corporation (NYSE TMK) opened at 83.12 on Friday. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 17.88 and a beta of 1.00. The stock has a 50 day moving average of $79.29 and a 200 day moving average of $77.46. Torchmark Corporation has a 52-week low of $62.86 and a 52-week high of $83.48.
Torchmark Corporation (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.11 EPS. On average, analysts predict that Torchmark Corporation will post $4.75 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Torchmark Corporation’s (NYSE:TMK) “Hold” Rating Reiterated at Keefe, Bruyette & Woods” was originally reported by BBNS and is the sole property of of BBNS. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://baseballnewssource.com/markets/torchmark-corporations-tmk-hold-rating-reaffirmed-at-keefe-bruyette-woods/1703652.html.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.72%. Torchmark Corporation’s dividend payout ratio (DPR) is 12.88%.
In other Torchmark Corporation news, EVP Vern D. Herbel sold 27,500 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $78.62, for a total transaction of $2,162,050.00. Following the sale, the executive vice president now directly owns 56,943 shares in the company, valued at approximately $4,476,858.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles E. Adair sold 9,244 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $78.89, for a total transaction of $729,259.16. Following the sale, the director now owns 20,613 shares in the company, valued at $1,626,159.57. The disclosure for this sale can be found here. Insiders have sold a total of 137,821 shares of company stock worth $10,837,593 over the last 90 days. 3.79% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Global X Management Co. LLC raised its position in shares of Torchmark Corporation by 539.3% during the 1st quarter. Global X Management Co. LLC now owns 2,506 shares of the insurance provider’s stock worth $193,000 after buying an additional 2,114 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Torchmark Corporation in the 1st quarter worth approximately $205,000. Twin Tree Management LP acquired a new position in shares of Torchmark Corporation in the 2nd quarter worth approximately $213,000. Bronfman E.L. Rothschild L.P. grew its stake in shares of Torchmark Corporation by 21.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,942 shares of the insurance provider’s stock worth $225,000 after purchasing an additional 515 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in shares of Torchmark Corporation by 46.3% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,072 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 972 shares during the last quarter. Institutional investors own 71.77% 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.
Receive News & Ratings for Torchmark Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torchmark Corporation and related companies with our FREE daily email newsletter.