Torchmark Corp. (TMK) Hits New 1-Year High at $64.26
Shares of Torchmark Corp. (NYSE:TMK) reached a new 52-week high on Monday . The stock traded as high as $64.26 and last traded at $63.99, with a volume of 168,766 shares changing hands. The stock had previously closed at $63.44.
Several analysts have recently weighed in on the company. Goldman Sachs Group Inc. raised Torchmark Corp. from a “sell” rating to a “neutral” rating and boosted their target price for the company from $54.00 to $60.00 in a report on Friday, July 15th. Deutsche Bank AG boosted their target price on Torchmark Corp. from $56.00 to $59.00 and gave the company a “hold” rating in a report on Friday, July 29th. Royal Bank Of Canada boosted 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. Zacks Investment Research raised Torchmark Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Finally, RBC Capital Markets reissued an “underperform” rating and issued a $55.00 target price (up from $53.00) on shares of Torchmark Corp. in a report on Monday, August 1st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $57.91.
The firm has a market cap of $7.73 billion and a P/E ratio of 14.85. The stock has a 50-day moving average of $62.28 and a 200-day moving average of $58.38.
Torchmark Corp. (NYSE:TMK) last announced 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. During the same quarter in the prior year, the business earned $1.05 earnings per share. The business had revenue of $992 million for the quarter, compared to analyst estimates of $979.43 million. The firm’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Torchmark Corp. will post $4.45 earnings per share for the current fiscal year.
In related news, insider Michael Shane Henrie sold 500 shares of Torchmark Corp. stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $60.04, for a total value of $30,020.00. Following the completion of the transaction, the insider now directly owns 500 shares in the company, valued at $30,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Domenico Bertini sold 3,375 shares of Torchmark Corp. stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $60.98, for a total value of $205,807.50. Following the completion of the transaction, the insider now owns 3,375 shares of the company’s stock, valued at $205,807.50. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Torchmark Corp. stock. Morgan Stanley raised its position in Torchmark Corp. (NYSE:TMK) by 265.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 281,660 shares of the company’s stock after buying an additional 204,588 shares during the period. Morgan Stanley owned 0.23% of Torchmark Corp. worth $16,098,000 at the end of the most recent reporting period.
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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