StockNews.com Downgrades Primerica (NYSE:PRI) to Hold

Primerica (NYSE:PRI) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other analysts have also recently commented on the company. Truist Financial upped their price target on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods upped their price target on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Morgan Stanley upped their price target on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their price objective on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Finally, Piper Sandler started coverage on Primerica in a research report on Friday. They issued a “neutral” rating and a $283.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Primerica currently has a consensus rating of “Hold” and an average price target of $275.20.

Primerica Trading Up 0.7 %

Shares of NYSE:PRI opened at $263.29 on Friday. The stock has a market capitalization of $9.06 billion, a P/E ratio of 16.02 and a beta of 1.09. The business has a 50-day moving average price of $248.10 and a two-hundred day moving average price of $238.93. Primerica has a 1-year low of $184.76 and a 1-year high of $265.27.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. Primerica’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.99 EPS. As a group, equities analysts predict that Primerica will post 17.92 EPS for the current year.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $1,817,595 in the last quarter. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Primerica

Several large investors have recently made changes to their positions in PRI. ORG Partners LLC acquired a new stake in shares of Primerica in the 2nd quarter valued at approximately $30,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after buying an additional 148 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Primerica in the 2nd quarter valued at approximately $71,000. Finally, O Dell Group LLC acquired a new stake in shares of Primerica in the 4th quarter valued at approximately $153,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.