Torchmark Corporation (NYSE:TMK) – Equities research analysts at Langen Mcalenn raised their FY2018 earnings per share (EPS) estimates for Torchmark in a report issued on Tuesday. Langen Mcalenn analyst R. Glasspiegel now forecasts that the insurance provider will post earnings per share of $6.00 for the year, up from their previous forecast of $5.20.
Torchmark (NYSE:TMK) last issued its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Torchmark had a return on equity of 11.60% and a net margin of 13.80%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $1.15 EPS.
Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Torchmark from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $78.00 target price on shares of Torchmark in a research note on Sunday, October 8th. ValuEngine raised Torchmark from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. SunTrust Banks lifted their target price on Torchmark from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Goldman Sachs Group initiated coverage on Torchmark in a research note on Wednesday, October 18th. They set a “neutral” rating and a $83.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $81.67.
Shares of Torchmark (NYSE TMK) traded down $0.37 on Friday, reaching $91.66. The company had a trading volume of 558,200 shares, compared to its average volume of 560,158. The company has a market cap of $10,640.00, a P/E ratio of 19.75, a PEG ratio of 2.28 and a beta of 1.02. Torchmark has a 52 week low of $72.59 and a 52 week high of $93.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06.
A number of institutional investors and hedge funds have recently bought and sold shares of TMK. Janus Henderson Group PLC boosted its holdings in Torchmark by 14,667.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,531,462 shares of the insurance provider’s stock valued at $193,657,000 after acquiring an additional 2,514,320 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Torchmark by 245.8% in the 4th quarter. Acadian Asset Management LLC now owns 667,797 shares of the insurance provider’s stock worth $60,576,000 after buying an additional 474,661 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Torchmark in the 2nd quarter worth $26,997,000. PGGM Investments purchased a new stake in shares of Torchmark in the 3rd quarter worth $23,339,000. Finally, Bank of Montreal Can lifted its holdings in shares of Torchmark by 141.4% in the 4th quarter. Bank of Montreal Can now owns 251,670 shares of the insurance provider’s stock worth $22,829,000 after buying an additional 147,412 shares during the period. Institutional investors own 72.63% of the company’s stock.
In other news, EVP W Michael Pressley sold 52,500 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $83.93, for a total transaction of $4,406,325.00. Following the transaction, the executive vice president now owns 105,948 shares of the company’s stock, valued at approximately $8,892,215.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth J. Matson sold 28,500 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $90.81, for a total value of $2,588,085.00. Following the transaction, the insider now owns 15,056 shares of the company’s stock, valued at approximately $1,367,235.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 234,335 shares of company stock worth $20,167,546. Corporate insiders own 3.79% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, January 4th. Torchmark’s payout ratio is 12.93%.
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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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