Torchmark (NYSE:TMK) Given New $81.00 Price Target at Morgan Stanley

Torchmark (NYSE:TMK) had its price target raised by research analysts at Morgan Stanley from $80.00 to $81.00 in a research report issued on Thursday, July 26th. The firm currently has an “underweight” rating on the insurance provider’s stock. Morgan Stanley’s target price points to a potential downside of 6.48% from the company’s previous close.

A number of other equities research analysts have also weighed in on TMK. ValuEngine raised shares of Torchmark from a “hold” rating to a “buy” rating in a report on Thursday, April 19th. Zacks Investment Research upgraded shares of Torchmark from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Saturday, July 7th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $85.25.

TMK opened at $86.61 on Thursday. Torchmark has a fifty-two week low of $74.48 and a fifty-two week high of $93.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.10 and a beta of 0.93.

Torchmark (NYSE:TMK) last posted its earnings results on Wednesday, July 25th. The insurance provider reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.02. Torchmark had a net margin of 36.13% and a return on equity of 11.14%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm posted $1.19 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. equities research analysts forecast that Torchmark will post 6.07 EPS for the current fiscal year.

In other news, CFO Frank M. Svoboda sold 12,375 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $85.61, for a total value of $1,059,423.75. Following the transaction, the chief financial officer now owns 105,828 shares in the company, valued at approximately $9,059,935.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven John Dichiaro sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $86.41, for a total transaction of $1,296,150.00. Following the completion of the transaction, the insider now owns 26,379 shares in the company, valued at approximately $2,279,409.39. The disclosure for this sale can be found here. Insiders sold a total of 67,747 shares of company stock worth $5,821,202 in the last 90 days. Corporate insiders own 3.68% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board lifted its position in shares of Torchmark by 123.5% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 132,790 shares of the insurance provider’s stock valued at $10,810,000 after acquiring an additional 73,378 shares during the period. Riverhead Capital Management LLC lifted its position in shares of Torchmark by 28.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 31,038 shares of the insurance provider’s stock valued at $2,527,000 after acquiring an additional 6,877 shares during the period. Braun Bostich & Associates Inc. lifted its position in shares of Torchmark by 1,298.9% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,287 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 1,195 shares during the period. Meadow Creek Investment Management LLC lifted its position in shares of Torchmark by 27.8% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 27,016 shares of the insurance provider’s stock valued at $2,199,000 after acquiring an additional 5,874 shares during the period. Finally, FMR LLC lifted its position in shares of Torchmark by 3.2% during the 2nd quarter. FMR LLC now owns 2,420,116 shares of the insurance provider’s stock valued at $197,022,000 after acquiring an additional 75,235 shares during the period. Institutional investors own 73.76% of the company’s stock.

About Torchmark

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, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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