Primerica (NYSE:PRI) Lifted to “Buy” at StockNews.com

Primerica (NYSE:PRI) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

PRI has been the subject of several other reports. Morgan Stanley upped their target price on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Piper Sandler assumed coverage on shares of Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective for the company. Jefferies Financial Group lifted their target price on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Finally, Truist Financial boosted their target price on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $275.20.

Primerica Trading Up 0.8 %

NYSE:PRI opened at $268.27 on Friday. The company has a 50-day moving average of $257.07 and a 200-day moving average of $241.15. Primerica has a twelve month low of $184.76 and a twelve month high of $268.37. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 16.33 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $3.99 earnings per share. On average, research analysts forecast that Primerica will post 18.03 earnings per share for the current year.

Insider Activity

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now directly owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the sale, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the business’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 sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $1,657,015 in the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Institutional investors and hedge funds have recently made changes to their positions in the stock. Burgundy Asset Management Ltd. lifted its stake in shares of Primerica by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock worth $292,688,000 after buying an additional 17,095 shares during the last quarter. Millennium Management LLC lifted its position in Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after acquiring an additional 678,752 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Primerica by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after acquiring an additional 21,836 shares during the period. Principal Financial Group Inc. grew its position in shares of Primerica by 5.0% in the first quarter. Principal Financial Group Inc. now owns 218,324 shares of the financial services provider’s stock valued at $55,227,000 after purchasing an additional 10,354 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Primerica by 13.6% during the 4th quarter. Schroder Investment Management Group now owns 124,155 shares of the financial services provider’s stock worth $25,546,000 after purchasing an additional 14,904 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

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.