Torchmark Corp. (TMK) Hits New 1-Year High at $63.11
Torchmark Corp. (NYSE:TMK)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $63.11 and last traded at $62.99, with a volume of 133,511 shares trading hands. The stock had previously closed at $62.72.
Several research firms have weighed in on TMK. Zacks Investment Research upgraded shares of Torchmark Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, May 4th. Evercore ISI began coverage on shares of Torchmark Corp. in a report on Wednesday, July 6th. They issued a “hold” rating and a $63.00 target price on the stock. Morgan Stanley lowered shares of Torchmark Corp. to a “sell” rating in a report on Tuesday, April 26th. RBC Capital Markets restated an “underperform” rating and issued a $55.00 price objective (up from $53.00) on shares of Torchmark Corp. in a report on Monday, August 1st. Finally, Bank of America Corp. upgraded shares of Torchmark Corp. from an “underperform” rating to a “neutral” rating in a report on Wednesday, June 29th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $57.91.
The stock has a market cap of $7.54 billion and a P/E ratio of 14.48. The company’s 50 day moving average price is $61.86 and its 200 day moving average price is $57.89.
Torchmark Corp. (NYSE:TMK) last released its earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.02. The business had revenue of $992 million for the quarter, compared to the consensus estimate of $979.43 million. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, analysts anticipate that Torchmark Corp. will post $4.45 earnings per share for the current year.
In other news, CFO Frank M. Svoboda sold 21,250 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $61.94, for a total transaction of $1,316,225.00. Following the completion of the transaction, the chief financial officer now owns 92,004 shares of the company’s stock, valued at $5,698,727.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Roger C. Smith sold 30,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $62.34, for a total transaction of $1,870,200.00. Following the transaction, the insider now directly owns 59,063 shares of the company’s stock, valued at approximately $3,681,987.42. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in TMK. Stephens Inc. AR increased its stake in 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 during the last quarter. Trexquant Investment LP bought a new stake in Torchmark Corp. during the fourth quarter valued at $1,246,000. Victory Capital Management Inc. increased its stake in 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 during the last quarter. Finally, Morgan Stanley increased its stake in Torchmark Corp. by 265.5% in the fourth quarter. Morgan Stanley now owns 281,660 shares of the company’s stock valued at $16,098,000 after buying an additional 204,588 shares during 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.
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