Torchmark (TMK) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Torchmark (NYSE:TMK) from a hold rating to a buy rating in a report published on Friday.

TMK has been the subject of a number of other research reports. Zacks Investment Research lowered Torchmark from a buy rating to a hold rating in a research note on Tuesday, December 26th. Goldman Sachs Group assumed coverage on Torchmark in a research note on Wednesday, October 18th. They issued a neutral rating and a $83.00 price target for the company. SunTrust Banks raised their price target on Torchmark from $75.00 to $85.00 and gave the stock a hold rating in a research note on Thursday, October 26th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $78.00 price target on shares of Torchmark in a research note on Sunday, October 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $84.20.

Shares of Torchmark (NYSE TMK) opened at $83.96 on Friday. Torchmark has a 52 week low of $73.53 and a 52 week high of $93.60. The company has a market capitalization of $9,690.00, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.11 and a beta of 0.94. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, January 5th were issued a $0.15 dividend. The ex-dividend date was Thursday, January 4th. This represents a $0.60 dividend on an annualized basis and a yield of 0.71%. Torchmark’s dividend payout ratio (DPR) is 12.93%.

In other Torchmark news, insider Roger C. Smith sold 30,000 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $90.64, for a total value of $2,719,200.00. Following the completion of the transaction, the insider now owns 65,685 shares in the company, valued at $5,953,688.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenneth J. Matson sold 28,500 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $90.81, for a total value of $2,588,085.00. Following the completion of 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 quarter, insiders sold 96,250 shares of company stock valued at $8,563,383. 3.79% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Torchmark by 13.0% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,860 shares of the insurance provider’s stock valued at $2,792,000 after acquiring an additional 4,000 shares in the last quarter. Atlantic Trust Group LLC increased its holdings in shares of Torchmark by 6.5% during the third quarter. Atlantic Trust Group LLC now owns 53,358 shares of the insurance provider’s stock valued at $4,274,000 after acquiring an additional 3,245 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Torchmark by 6.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,592 shares of the insurance provider’s stock valued at $1,889,000 after acquiring an additional 1,518 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Torchmark by 9.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,448 shares of the insurance provider’s stock valued at $1,397,000 after acquiring an additional 1,446 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Torchmark during the third quarter valued at $447,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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Torchmark Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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