Shares of Torchmark Corp. (NYSE:TMK) gapped up prior to trading on Friday . The stock had previously closed at $60.98, but opened at $61.24. Torchmark Corp. shares last traded at $61.88, with a volume of 329,340 shares traded.

A number of analysts recently weighed in on TMK shares. Citigroup Inc. increased their price objective on shares of Torchmark Corp. from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Zacks Investment Research lowered shares of Torchmark Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Goldman Sachs Group Inc. raised shares of Torchmark Corp. from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $54.00 to $60.00 in a research report on Friday, July 15th. Deutsche Bank AG increased their price objective on shares of Torchmark Corp. from $56.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Finally, Royal Bank Of Canada increased their price objective on shares of Torchmark Corp. from $53.00 to $55.00 and gave the stock an “underperform” rating in a research report on Monday, August 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $58.00.

The firm has a market cap of $7.49 billion and a P/E ratio of 14.28. The stock’s 50-day moving average is $61.29 and its 200 day moving average is $57.01.

Torchmark Corp. (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.02. The business had revenue of $992 million for the quarter, compared to analyst estimates of $979.43 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that Torchmark Corp. will post $4.45 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 1st were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.56 annualized dividend and a yield of 0.90%.

In other news, CFO Frank M. Svoboda sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $59.22, for a total value of $1,480,500.00. Following the transaction, the chief financial officer now directly owns 90,754 shares in the company, valued at approximately $5,374,451.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Gary L. Coleman sold 37,500 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $62.06, for a total transaction of $2,327,250.00. Following the completion of the transaction, the chairman now owns 625,581 shares in the company, valued at $38,823,556.86. The disclosure for this sale can be found here.

Other institutional investors recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Torchmark Corp. by 11.7% in the fourth quarter. Victory Capital Management Inc. now owns 18,525 shares of the company’s stock valued at $1,059,000 after buying an additional 1,945 shares in the last quarter. Aberdeen Asset Management PLC UK raised its position in shares of Torchmark Corp. by 7.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 20,953 shares of the company’s stock valued at $1,223,000 after buying an additional 1,531 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Torchmark Corp. during the fourth quarter valued at approximately $1,246,000. Stephens Inc. AR raised its position in shares of Torchmark Corp. by 0.5% in the fourth quarter. Stephens Inc. AR now owns 22,918 shares of the company’s stock valued at $1,310,000 after buying an additional 115 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Torchmark Corp. by 6.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 25,721 shares of the company’s stock valued at $1,470,000 after buying an additional 1,609 shares in the last quarter.

Torchmark Corporation is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.