Torchmark Corp. (TMK) Sets New 1-Year High at $64.26
Torchmark Corp. (NYSE:TMK)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $64.26 and last traded at $63.99, with a volume of 168,766 shares. The stock had previously closed at $63.44.
TMK has been the subject of several analyst reports. Citigroup Inc. raised their price target on Torchmark Corp. from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Zacks Investment Research downgraded Torchmark Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Goldman Sachs Group Inc. upgraded Torchmark Corp. from a “sell” rating to a “neutral” rating and raised their price target for the company from $54.00 to $60.00 in a report on Friday, July 15th. Royal Bank Of Canada raised their price target on Torchmark Corp. from $53.00 to $55.00 and gave the company an “underperform” rating in a report on Monday, August 1st. Finally, Deutsche Bank AG raised their price target on Torchmark Corp. from $56.00 to $59.00 and gave the company a “hold” rating in a report on Friday, July 29th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Torchmark Corp. has an average rating of “Hold” and an average target price of $57.91.
The stock has a market cap of $7.65 billion and a price-to-earnings ratio of 14.70. The stock has a 50-day moving average of $62.12 and a 200 day moving average of $58.06.
Torchmark Corp. (NYSE:TMK) last issued its quarterly earnings data 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 company had revenue of $992 million for the quarter, compared to analysts’ expectations of $979.43 million. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. Equities analysts anticipate that Torchmark Corp. will post $4.45 EPS for the current fiscal year.
In related news, insider Michael Shane Henrie sold 500 shares of the company’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $60.04, for a total transaction of $30,020.00. Following the transaction, the insider now directly owns 500 shares of the company’s stock, valued at approximately $30,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Vern D. Herbel sold 88,125 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $61.87, for a total value of $5,452,293.75. Following the transaction, the executive vice president now directly owns 85,630 shares in the company, valued at $5,297,928.10. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Morgan Stanley raised its position in shares of 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 in the last quarter. 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. Trexquant Investment LP acquired a new position in shares of Torchmark Corp. during the fourth quarter valued at about $1,246,000. Finally, 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.
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.