Trade Report: The Torchmark Corp. (TMK) Now Covered by Credit Suisse Group AG

The Torchmark Corp. (TMK) Now Covered by Credit Suisse Group AG

Credit Suisse Group AG began coverage on shares of Torchmark Corp. (NYSE:TMK) in a report released on Friday morning. The firm issued a neutral rating and a $68.00 target price on the stock.

A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Torchmark Corp. from a buy rating to a hold rating in a research report on Tuesday, October 4th. Royal Bank Of Canada upped their price objective on Torchmark Corp. from $53.00 to $55.00 and gave the company an underperform rating in a research report on Monday, August 1st. Bank of America Corp. upgraded Torchmark Corp. from an underperform rating to a neutral rating in a research report on Wednesday, June 29th. Goldman Sachs Group Inc. upgraded Torchmark Corp. from a sell rating to a neutral rating and upped their price objective for the company from $54.00 to $60.00 in a research report on Friday, July 15th. Finally, Citigroup Inc. upped their price objective on Torchmark Corp. from $58.00 to $60.00 and gave the company a neutral rating in a research report on Thursday, July 7th. Five investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company presently has an average rating of Hold and a consensus price target of $59.17.

Shares of Torchmark Corp. (NYSE:TMK) opened at 64.39 on Friday. The stock has a 50 day moving average price of $64.27 and a 200-day moving average price of $60.67. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 14.81 and a beta of 1.06. Torchmark Corp. has a 12 month low of $48.47 and a 12 month high of $65.60.

Torchmark Corp. (NYSE:TMK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. Torchmark Corp. had a return on equity of 12.19% and a net margin of 13.85%. The company earned $992 million during the quarter, compared to analyst estimates of $979.43 million. During the same period in the prior year, the company earned $1.05 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Analysts expect that Torchmark Corp. will post $4.45 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.56 annualized dividend and a yield of 0.87%. Torchmark Corp.’s dividend payout ratio (DPR) is currently 12.84%.

In other Torchmark Corp. news, CFO Frank M. Svoboda sold 21,250 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $61.94, for a total transaction of $1,316,225.00. Following the sale, the chief financial officer now owns 92,004 shares of the company’s stock, valued at approximately $5,698,727.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gary L. Coleman sold 37,500 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $62.06, for a total value of $2,327,250.00. Following the sale, the chairman now directly owns 625,581 shares in the company, valued at approximately $38,823,556.86. The disclosure for this sale can be found here. 3.96% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Torchmark Corp. during the fourth quarter valued at about $7,663,000. Ngam Advisors L.P. boosted its stake in shares of Torchmark Corp. by 2.0% in the first quarter. Ngam Advisors L.P. now owns 11,180 shares of the company’s stock valued at $606,000 after buying an additional 218 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Torchmark Corp. by 7.3% in the first quarter. TIAA CREF Investment Management LLC now owns 274,372 shares of the company’s stock valued at $14,860,000 after buying an additional 18,728 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Torchmark Corp. by 1.5% in the first quarter. Teachers Advisors Inc. now owns 145,783 shares of the company’s stock valued at $7,896,000 after buying an additional 2,095 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Torchmark Corp. by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,326,787 shares of the company’s stock valued at $180,179,000 after buying an additional 86,539 shares during the period. 75.52% of the stock is currently owned by institutional investors and hedge funds.

About Torchmark Corp.

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