The downgrade comes as the firm believes the company is facing increasing credit and the risk of higher rates.
The deteriorating macro environment and the stock's premium valuation also played a part in the firm's decision to downgrade its rating on Torchmark Corp., The Fly reports.
Goldman Sachs' price target of $54 on the stock is unchanged.
Torchmark Corp. is a McKinney, TX-based insurance holding company. The company's segments include life insurance, health insurance, Medicare Part D, annuities and investment.
Separately, TheStreet Ratings has set a "buy" rating and a score of B on Torchmark stock. This is driven by a few notable strengths, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers.
The company's strengths can be seen in multiple areas, such as its notable return on equity and relatively strong performance when compared with the S&P 500 during the past year. Although no company is perfect, currently TheStreet Ratings does not see any significant weaknesses which are likely to detract from the generally positive outlook.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TMK