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 equities analysts have weighed in on TMK shares. Zacks Investment Research lowered Torchmark Corp. from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. RBC Capital Markets restated an “underperform” rating and set a $55.00 target price (up from $53.00) on shares of Torchmark Corp. in a report on Monday, August 1st. Royal Bank Of Canada raised their target price on Torchmark Corp. from $53.00 to $55.00 and gave the company an “underperform” rating in a report on Monday, August 1st. Evercore ISI initiated coverage on Torchmark Corp. in a report on Wednesday, July 6th. They set a “hold” rating and a $63.00 target price on the stock. Finally, Bank of America Corp. upgraded Torchmark Corp. from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 29th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Torchmark Corp. has an average rating of “Hold” and a consensus price target of $57.91.
The firm’s 50 day moving average price is $61.95 and its 200-day moving average price is $57.93. The company has a market cap of $7.61 billion and a P/E ratio of 14.60.
Torchmark Corp. (NYSE:TMK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate 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 prior year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts predict that Torchmark Corp. will post $4.45 EPS for the current fiscal year.
In other news, insider Roger C. Smith sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 59,063 shares in the company, valued at approximately $3,681,987.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael Clay Majors sold 5,075 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $61.89, for a total transaction of $314,091.75. Following the transaction, the vice president now owns 9,462 shares of the company’s stock, valued at $585,603.18. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. Stephens Inc. AR increased its position in Torchmark Corp. by 0.5% in the fourth quarter. Stephens Inc. AR now owns 22,918 shares of the company’s stock worth $1,310,000 after buying an additional 115 shares in the last quarter. Victory Capital Management Inc. increased its position in Torchmark Corp. by 11.7% in the fourth quarter. Victory Capital Management Inc. now owns 18,525 shares of the company’s stock worth $1,059,000 after buying an additional 1,945 shares in the last quarter. Trexquant Investment LP acquired a new position in Torchmark Corp. during the fourth quarter worth approximately $1,246,000. Finally, Morgan Stanley increased its position in Torchmark Corp. by 265.5% in the fourth quarter. Morgan Stanley now owns 281,660 shares of the company’s stock worth $16,098,000 after buying an additional 204,588 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.
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