Wells Fargo Assumes Torchmark Corporation to Underperform

Brokerage firm Wells Fargo Assumes its rating on Torchmark Corporation(NYSE:TMK). The shares have been rated Underperform. The rating by Wells Fargo was issued on Sep 23, 2016.

In a different note, On Jul 29, 2016, Deutsche Bank said it Maintains its rating on Torchmark Corporation. In the research note, the firm Raises the price-target to $56.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 15, 2016, Goldman Sachs said it Upgrades its rating on Torchmark Corporation. In the research note, the firm Raises the price-target to $54.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 7, 2016, Citigroup said it Maintains its rating on Torchmark Corporation. In the research note, the firm Raises the price-target to $58.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 29, 2016, Bank of America said it Upgrades its rating on Torchmark Corporation. The shares have been rated ‘Neutral’ by the firm.

Torchmark Corporation (TMK) made into the market gainers list on Tuesdays trading session with the shares advancing 0.44% or 0.28 points. Due to strong positive momentum, the stock ended at $63.48, which is also near the day’s high of $63.545. The stock began the session at $63.06 and the volume stood at 4,77,765 shares. The 52-week high of the shares is $65.6 and the 52 week low is $48.47. The company has a current market capitalization of $7,603 M and it has 11,97,68,489 shares in outstanding.

Torchmark Corporation has also declared a cash dividend of $0.1400 on Sep 8, 2016. The shares will quote ex-dividend on Oct 5, 2016 and the record date has been fixed on Oct 7, 2016. The dividend payable date has been fixed on Nov 1, 2016.

Torchmark Corporation(TMK) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $992.00M. Analysts had an estimated revenue of $981.82M. Earnings per share were $1.11. Analysts had estimated an EPS of $1.09.

Several Insider Transactions has been reported to the SEC. On Aug 30, 2016, Frank M Svoboda (EVP & CFO) sold 48,250 shares at $63.95 per share price.Also, 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.

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