Torchmark Corporation (TMK) was Resumed by Wells Fargo to “Underperform”. Wells Fargo advised their investors in a research report released on Sep 23, 2016.
Many Wall Street Analysts have commented on Torchmark Corporation. Company shares were Reiterated by RBC Capital Mkts on Aug 1, 2016 to “Underperform”, Firm has raised the Price Target to $ 55 from a previous price target of $53 .Torchmark Corporation was Upgraded by Goldman to ” Neutral” on Jul 15, 2016. Torchmark Corporation was Upgraded by BofA/Merrill to ” Neutral” on Jun 29, 2016.
On the company’s financial health, Torchmark Corporation reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.09. The company had revenue of $992.00 million for the quarter, compared to analysts expectations of $979.43 million. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.
Torchmark Corporation closed down -0.35 points or -0.54% at $64.86 with 4,25,807 shares getting traded on Thursday. Post opening the session at $65.53, the shares hit an intraday low of $64.77 and an intraday high of $65.6 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
Investors should note that on Sep 8, 2016, Torchmark Corporation announced a cash dividend of $0.1400. The company’s management has announced Oct 5, 2016 as the ex-dividend date and fixed the record date on Oct 7, 2016. The payable date has been fixed on Nov 1, 2016.
In a different news, on Aug 30, 2016, Frank M Svoboda (EVP & CFO) sold 48,250 shares at $63.95 per share price. According to the SEC, on Aug 10, 2016, Carol A Mccoy (VP, Assoc. Counsel & Corp. Sec) sold 6,000 shares at $62.03 per share price. On Aug 10, 2016, Michael Clay Majors (VP & Dir Investor Relations) sold 5,075 shares at $61.89 per share price, according to the Form-4 filing with the securities and exchange commission.
Torchmark Corporation is an insurance holding company. The Company’s segments include life insurance health insurance Medicare Part D annuities and investment. The life insurance segment offers whole-life insurance term life insurance and other life insurance products. The health insurance segment offers supplemental limited-benefit health insurance products primarily for cancer and accident plans. It also provides coverage under the Government’s Medicare Part D plan. The Company offers single-premium and flexible-premium deferred annuity products. The Company also invests in bonds preferred stock common stocks mortgage loans real estate policy loans and others. Its primary subsidiaries are American Income Life Insurance Company Liberty National Life Insurance Company Globe Life And Accident Insurance Company United American Insurance Company and Family Heritage Life Insurance Company of America.