Primerica (NYSE:PRI) Rating Lowered to Hold at StockNews.com

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

A number of other research analysts have also weighed in on PRI. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Jefferies Financial Group lifted their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley increased their price objective on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Truist Financial lifted their target price on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, TD Cowen began coverage on shares of Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price target on the stock. Six equities research 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, the company currently has a consensus rating of “Hold” and an average price target of $281.67.

Primerica Stock Performance

Shares of PRI opened at $276.71 on Monday. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $284.37. The business has a 50-day moving average of $267.76 and a 200 day moving average of $247.11. The firm has a market cap of $9.36 billion, a P/E ratio of 22.15 and a beta of 1.08.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same quarter last year, the company earned $3.99 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. As a group, research analysts predict that Primerica will post 18.13 earnings per share for the current fiscal year.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value 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 $11,446,071.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value 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 approximately $11,446,071.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,500 shares of company stock worth $1,657,015. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Primerica

A number of hedge funds have recently made changes to their positions in the business. Blair William & Co. IL raised its position in Primerica by 24.5% in the 1st quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock worth $3,076,000 after purchasing an additional 2,393 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Primerica by 456.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock worth $2,164,000 after buying an additional 7,506 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Primerica by 136.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock valued at $1,599,000 after acquiring an additional 3,649 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Primerica during the 1st quarter valued at about $979,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Primerica during the 2nd quarter worth approximately $3,514,000. 90.88% of the stock is currently owned by institutional investors.

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.