Torchmark Corp. (TMK) Reaches New 52-Week High at $65.10
Shares of Torchmark Corp. (NYSE:TMK) hit a new 52-week high during trading on Monday . The company traded as high as $65.10 and last traded at $65.08, with a volume of 403,600 shares. The stock had previously closed at $64.64.
A number of analysts have recently commented on the stock. Goldman Sachs Group Inc. upgraded shares of Torchmark Corp. from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $54.00 to $60.00 in a research note on Friday, July 15th. Deutsche Bank AG lifted their price target on shares of Torchmark Corp. from $56.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Zacks Investment Research upgraded shares of Torchmark Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Royal Bank Of Canada lifted their price target on shares of Torchmark Corp. from $53.00 to $55.00 and gave the stock an “underperform” rating in a research note on Monday, August 1st. Finally, RBC Capital Markets reiterated an “underperform” rating and issued a $55.00 price target (up from $53.00) on shares of Torchmark Corp. in a research note on Monday, August 1st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $57.91.
The stock has a market cap of $7.79 billion and a price-to-earnings ratio of 14.97. The firm’s 50-day moving average is $62.51 and its 200 day moving average is $58.51.
Torchmark Corp. (NYSE:TMK) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.02. During the same period in the previous year, the company posted $1.05 earnings per share. The firm had revenue of $992 million for the quarter, compared to analysts’ expectations of $979.43 million. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Torchmark Corp. will post $4.45 EPS for the current fiscal year.
In related news, EVP Vern D. Herbel sold 88,125 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 85,630 shares of the company’s stock, valued at approximately $5,297,928.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Domenico Bertini sold 3,375 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $60.98, for a total transaction of $205,807.50. Following the completion of the transaction, the insider now directly owns 3,375 shares of the company’s stock, valued at $205,807.50. The disclosure for this sale can be found here.
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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