Torchmark Corporation’s (NYSE:TMK) “Hold” Rating Reiterated at Keefe, Bruyette & Woods

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.

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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.

Analyst Recommendations for Torchmark Corporation (NYSE:TMK)

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