Primerica (NYSE:PRI) Stock Rating Lowered by StockNews.com

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

Other research analysts have also issued research reports about the company. Morgan Stanley increased their price target on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Piper Sandler assumed coverage on shares of Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 price target for the company. TD Cowen assumed 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. Jefferies Financial Group upped their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, Truist Financial increased their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $288.33.

Primerica Stock Up 0.5 %

PRI opened at $298.41 on Thursday. The business’s fifty day simple moving average is $272.79 and its 200 day simple moving average is $250.55. Primerica has a 52 week low of $184.76 and a 52 week high of $304.84. The firm has a market cap of $9.96 billion, a P/E ratio of 22.74 and a beta of 1.08.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the previous year, the business posted $4.28 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Primerica will post 19.12 EPS for the current fiscal year.

Primerica declared that its board has approved a stock repurchase plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Primerica

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 sale, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. This trade represents a 12.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $3,846,081.35. This trade represents a 11.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock valued at $1,803,175 over the last three months. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Primerica

A number of large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Primerica in the 3rd quarter worth about $31,000. Prospera Private Wealth LLC bought a new stake in Primerica in the third quarter valued at about $31,000. ORG Partners LLC acquired a new stake in Primerica during the second quarter valued at approximately $30,000. UMB Bank n.a. lifted its holdings in Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

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.