The stock of Torchmark Corporation (NYSE:TMK) hit a new 52-week high and has $97.86 target or 47.00% above today’s $66.57 share price. The 6 months bullish chart indicates low risk for the $7.96B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $97.86 price target is reached, the company will be worth $3.74 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 326,045 shares traded hands. Torchmark Corporation (NYSE:TMK) has risen 23.85% since April 7, 2016 and is uptrending. It has outperformed by 19.07% the S&P500.
Torchmark Corporation (NYSE:TMK) Ratings Coverage
Out of 8 analysts covering Torchmark Corporation (NYSE:TMK), 0 rate it a “Buy”, 3 “Sell”, while 5 “Hold”. This means 0 are positive. Torchmark Corporation has been the topic of 19 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Morgan Stanley downgraded Torchmark Corporation (NYSE:TMK) on Thursday, August 13 to “Underweight” rating. On Friday, October 7 the stock rating was initiated by Credit Suisse with “Neutral”. The firm earned “Outperform” rating on Wednesday, January 13 by Wells Fargo. Zacks upgraded Torchmark Corporation (NYSE:TMK) on Wednesday, August 19 to “Sell” rating. The firm has “Market Perform” rating by FBR Capital given on Monday, August 3. The stock has “Underperform” rating given by Wells Fargo on Friday, September 23. Zacks upgraded the shares of TMK in a report on Wednesday, September 2 to “Hold” rating. The stock has “Neutral” rating given by Goldman Sachs on Friday, July 15. The rating was downgraded by Bank of America to “Underperform” on Wednesday, July 29. The stock of Torchmark Corporation (NYSE:TMK) earned “Neutral” rating by Goldman Sachs on Tuesday, November 17.
According to Zacks Investment Research, “Torchmark Corporation is a financial services holding company specializing in life and supplemental health insurance for middle income Americans marketed through multiple distribution channels including direct response, exclusive and independent agencies. (Press Release)”
Insitutional Activity: The institutional sentiment is 0.77 in Q2 2016. Its the same as in 2016Q1. The ratio is flat, as 25 funds sold all Torchmark Corporation shares owned while 146 reduced positions. only 44 funds bought stakes while 88 increased positions. They now own 87.73 million shares or 7.54% less from 94.88 million shares in 2016Q1.
Gam Holding Ag owns 5,196 shares or 0% of their US portfolio. Tower Rech Cap Ltd Llc (Trc) reported 3,191 shares or 0.02% of all its holdings. Parkside Retail Bank Trust has 13 shares for 0% of their US portfolio. Old Mutual Customised Solutions (Proprietary) reported 3,600 shares or 0.06% of all its holdings. Tweedy Browne Com has 190,529 shares for 0.33% of their US portfolio. Rs Invest Lc, a California-based fund reported 471,240 shares. The Massachusetts-based Srb Corporation has invested 0.02% in Torchmark Corporation (NYSE:TMK). Nationwide Fund Advsrs last reported 0.05% of its portfolio in the stock. British Columbia Management has invested 0.04% of its portfolio in Torchmark Corporation (NYSE:TMK). Shell Asset last reported 0.03% of its portfolio in the stock. Glob X Management Com Ltd Liability has 0% invested in the company for 16 shares. Atlantic Trust Group Inc Ltd Liability Co owns 50,113 shares or 0.02% of their US portfolio. Sector Pension Inv Board accumulated 21,220 shares or 0.01% of the stock. Tokio Marine Asset Communication Limited accumulated 5,412 shares or 0.03% of the stock. Mitsubishi Ufj Bk holds 0.03% of its portfolio in Torchmark Corporation (NYSE:TMK) for 243,090 shares.
Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 27 selling transactions for $31.07 million net activity. On Friday, July 29 the insider HENRIE MICHAEL SHANE sold $34,067. LUTEK BEN also sold $1.52M worth of Torchmark Corporation (NYSE:TMK) on Thursday, October 27. Another trade for 5,075 shares valued at $314,108 was made by MAJORS MICHAEL CLAY on Tuesday, August 9. COLEMAN GARY L sold $2.33 million worth of stock or 37,500 shares. Bertini Domenico had sold 3,375 shares worth $205,798. 6,000 shares were sold by MCCOY CAROL A, worth $372,148. Shares for $110,907 were sold by Rogers John Henry JR on Tuesday, May 24.
More notable recent Torchmark Corporation (NYSE:TMK) news were published by: Prnewswire.com which released: “TORCHMARK CORPORATION REPORTS Third quarter 2016 Results” on October 25, 2016, also Seekingalpha.com with their article: “Torchmark Corporation’s (TMK) CEO Gary Coleman on Q2 2016 Results – Earnings …” published on July 28, 2016, Seekingalpha.com published: “Torchmark Corporation’s (TMK) CEO Gary Coleman on Q3 2016 Results – Earnings …” on October 26, 2016. More interesting news about Torchmark Corporation (NYSE:TMK) were released by: Prnewswire.com and their article: “Torchmark Prices Junior Subordinated Debentures Offering” published on March 30, 2016 as well as Moodys.com‘s news article titled: “Moody’s rates Torchmark’s shelf (senior debt at (P)Baa1); stable outlook” with publication date: March 22, 2016.
TMK Company Profile
Torchmark Corporation (Torchmark), incorporated on November 29, 1979, is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a broad base of customers. The Company’s divisions include life insurance, health insurance, annuities and investment. The life insurance segment offers whole-life insurance and term life insurance. The Health insurance products are guaranteed-renewable and include Medicare Supplement, critical illness, accident, long-term care and limited-benefit supplemental hospital and surgical coverage’s. Annuities include fixed-benefit contracts. The Firm markets its insurance products through various distribution channels, each of which sells the products of its insurance divisions. The Company’s primary subsidiaries are American Income Life Insurance Company (American Income), Liberty National Life Insurance Company (Liberty National), Globe Life And Accident Insurance Company (Globe), United American Insurance Company (United American), and Family Heritage Life Insurance Company of America (Family Heritage).
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