On Aug 23, 2016, shares of Torchmark Corporation reached a 52-week high of $63.11 driven by strong second-quarter 2016 results. About 0.3 million shares exchanged hands in the last trading session and the stock finally closed at $62.97, up 0.40%. Year to date, the stock has returned 10.16%, which is above 6.99% returned by the S&P 500.
In the second quarter, Torchmark delivered operating earnings per share of $1.11 that beat the Zacks Consensus Estimate by a penny. The bottom line also improved 7.8% year over year on the back of higher premium contribution from Life as well as Health segments. Lower share count due to continuous buybacks also drove the upside.
With respect to surprise trend, this Zacks Rank #3 (Hold) life insurer delivered positive surprises in three of the last four quarters, with an average beat of 0.7%.
Revenues too improved on the back of growth in Life and Health Insurance premiums as well as higher net investment income.
Moreover, the company’s operating fundamental has been displaying strength. Agent count, which is an integral part of the company’s operations, remained strong and Torchmark projects agent count between 6,650 and 6,850 by year-end 2016.
The direct response operations at Global Life have also shown consistent growth with improving Life premiums.
Banking on its solid operational performance, Torchmark engages in shareholder friendly moves. By virtue of its intelligent capital management strategy, the life insurer generated 83% return for its investors over the past 10 years.
Based on the company’s solid earnings, the Zacks Consensus Estimate for 2016 inched up 0.5% to $4.46 in the last 30 days. The expected long-term earnings growth is currently pegged at 7.3%.
Stocks to Consider
Some better-ranked life insurance stocks are Health Insurance Innovations, Inc. , Genworth Financial, Inc. (GNW - Free Report) and Allied Primerica, Inc. (PRI - Free Report) . While Health Insurance Innovations sports a Zacks Rank #1 (Strong Buy), both Genworth Financial and Allied Primerica hold a Zacks Rank #2 (Buy).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
On Aug 23, 2016, shares of Torchmark Corporation reached a 52-week high of $63.11 driven by strong second-quarter 2016 results. About 0.3 million shares exchanged hands in the last trading session and the stock finally closed at $62.97, up 0.40%. Year to date, the stock has returned 10.16%, which is above 6.99% returned by the S&P 500.
In the second quarter, Torchmark delivered operating earnings per share of $1.11 that beat the Zacks Consensus Estimate by a penny. The bottom line also improved 7.8% year over year on the back of higher premium contribution from Life as well as Health segments. Lower share count due to continuous buybacks also drove the upside.
With respect to surprise trend, this Zacks Rank #3 (Hold) life insurer delivered positive surprises in three of the last four quarters, with an average beat of 0.7%.
Revenues too improved on the back of growth in Life and Health Insurance premiums as well as higher net investment income.
Moreover, the company’s operating fundamental has been displaying strength. Agent count, which is an integral part of the company’s operations, remained strong and Torchmark projects agent count between 6,650 and 6,850 by year-end 2016.
The direct response operations at Global Life have also shown consistent growth with improving Life premiums.
Banking on its solid operational performance, Torchmark engages in shareholder friendly moves. By virtue of its intelligent capital management strategy, the life insurer generated 83% return for its investors over the past 10 years.
Based on the company’s solid earnings, the Zacks Consensus Estimate for 2016 inched up 0.5% to $4.46 in the last 30 days. The expected long-term earnings growth is currently pegged at 7.3%.
Stocks to Consider
Some better-ranked life insurance stocks are Health Insurance Innovations, Inc. , Genworth Financial, Inc. (GNW - Free Report) and Allied Primerica, Inc. (PRI - Free Report) . While Health Insurance Innovations sports a Zacks Rank #1 (Strong Buy), both Genworth Financial and Allied Primerica hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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