Torchmark Corporation’s (NYSE:TMK) Hold Rating Reiterated at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods restated their hold rating on shares of Torchmark Corporation (NYSE:TMK) in a research note issued to investors on Thursday. They currently have a $78.00 price target on the insurance provider’s stock.
A number of other analysts have also commented on the company. BidaskClub raised Torchmark Corporation from a hold rating to a buy rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered Torchmark Corporation from a hold rating to a sell rating in a research note on Thursday, July 6th. Finally, ValuEngine lowered Torchmark Corporation from a buy rating to a hold rating in a research note on Tuesday, May 23rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $73.00.
Shares of Torchmark Corporation (TMK) opened at 79.07 on Thursday. Torchmark Corporation has a 52 week low of $60.92 and a 52 week high of $79.53. The firm has a market cap of $9.25 billion, a PE ratio of 16.99 and a beta of 0.98. The firm’s 50-day moving average is $77.49 and its 200 day moving average is $76.44.
Torchmark Corporation (NYSE:TMK) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.70% and a net margin of 13.96%. Torchmark Corporation’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. Equities research analysts forecast that Torchmark Corporation will post $4.75 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.60 annualized dividend and a yield of 0.76%. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.88%.
In other news, insider John Henry Rogers, Jr. sold 1,875 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $79.25, for a total value of $148,593.75. Following the transaction, the insider now directly owns 1,875 shares in the company, valued at approximately $148,593.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Arvelia Bowie sold 16,875 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $78.45, for a total value of $1,323,843.75. Following the completion of the transaction, the vice president now owns 17,941 shares in the company, valued at $1,407,471.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,577 shares of company stock worth $7,256,884. Company insiders own 3.79% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Torchmark Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,918,414 shares of the insurance provider’s stock valued at $918,194,000 after buying an additional 458,913 shares during the last quarter. BlackRock Inc. increased its stake in shares of Torchmark Corporation by 2,764.7% in the first quarter. BlackRock Inc. now owns 7,478,138 shares of the insurance provider’s stock valued at $576,118,000 after buying an additional 7,217,094 shares during the last quarter. State Street Corp increased its stake in shares of Torchmark Corporation by 2.6% in the first quarter. State Street Corp now owns 5,852,059 shares of the insurance provider’s stock valued at $450,848,000 after buying an additional 150,546 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Torchmark Corporation by 1.2% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,023,143 shares of the insurance provider’s stock valued at $156,033,000 after buying an additional 23,100 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Torchmark Corporation by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,196,767 shares of the insurance provider’s stock valued at $92,199,000 after buying an additional 127,185 shares during the last quarter. Institutional investors and hedge funds own 74.74% of the company’s stock.
About Torchmark Corporation
Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.
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