Analysts Set Torchmark Co. (NYSE:TMK) Target Price at $86.50

Shares of Torchmark Co. (NYSE:TMK) have received an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $86.50.

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price target on Torchmark from $84.00 to $86.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Tuesday, May 21st.

In other Torchmark news, VP Carol A. Mccoy sold 6,000 shares of Torchmark stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $88.64, for a total transaction of $531,840.00. Following the completion of the sale, the vice president now owns 101,043 shares of the company’s stock, valued at $8,956,451.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul J. Zucconi sold 18,118 shares of Torchmark stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $87.45, for a total value of $1,584,419.10. Following the sale, the director now directly owns 27,067 shares of the company’s stock, valued at approximately $2,367,009.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,042 shares of company stock valued at $16,774,328. Corporate insiders own 3.64% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Keybank National Association OH grew its holdings in shares of Torchmark by 2.7% during the 2nd quarter. Keybank National Association OH now owns 4,991 shares of the insurance provider’s stock worth $446,000 after acquiring an additional 130 shares during the period. Kays Financial Advisory Corp ADV boosted its position in shares of Torchmark by 0.7% in the 2nd quarter. Kays Financial Advisory Corp ADV now owns 20,385 shares of the insurance provider’s stock worth $1,824,000 after purchasing an additional 133 shares in the last quarter. Advisor Partners LLC boosted its position in shares of Torchmark by 2.5% in the 1st quarter. Advisor Partners LLC now owns 5,724 shares of the insurance provider’s stock worth $469,000 after purchasing an additional 138 shares in the last quarter. Avestar Capital LLC boosted its position in shares of Torchmark by 6.6% in the 1st quarter. Avestar Capital LLC now owns 2,486 shares of the insurance provider’s stock worth $187,000 after purchasing an additional 154 shares in the last quarter. Finally, ETF Managers Group LLC boosted its position in shares of Torchmark by 10.3% in the 1st quarter. ETF Managers Group LLC now owns 1,707 shares of the insurance provider’s stock worth $140,000 after purchasing an additional 160 shares in the last quarter. 75.76% of the stock is owned by institutional investors.

TMK stock traded up $2.11 during mid-day trading on Thursday, hitting $88.10. 526,400 shares of the stock were exchanged, compared to its average volume of 500,082. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06. The firm’s fifty day simple moving average is $90.22. Torchmark has a 12 month low of $69.68 and a 12 month high of $93.26. The company has a market cap of $9.45 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.68 and a beta of 0.95.

Torchmark (NYSE:TMK) last issued its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.02. Torchmark had a return on equity of 12.90% and a net margin of 16.26%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, research analysts predict that Torchmark will post 6.73 earnings per share for the current fiscal year.

Torchmark Company Profile

Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.

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