Primerica, Inc. (PRI) Earns Hold Rating from Keefe, Bruyette & Woods
Primerica, Inc. (NYSE:PRI)‘s stock had its “hold” rating reaffirmed by Keefe, Bruyette & Woods in a note issued to investors on Monday. They presently have a $87.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 2.52% from the company’s current price.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Wednesday, October 11th. BidaskClub cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a research report on Tuesday, August 8th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Primerica currently has an average rating of “Hold” and a consensus price target of $88.50.
Primerica (PRI) traded up 2.23% on Monday, hitting $89.25. The stock had a trading volume of 225,920 shares. The firm’s 50 day moving average price is $79.09 and its 200-day moving average price is $78.81. Primerica has a 12 month low of $52.75 and a 12 month high of $89.30. The stock has a market cap of $4.01 billion, a PE ratio of 18.18 and a beta of 1.17.
Primerica (NYSE:PRI) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The firm had revenue of $413.70 million during the quarter, compared to the consensus estimate of $410.97 million. During the same quarter last year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts forecast that Primerica will post $5.22 EPS for the current year.
In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total transaction of $242,040.00. Following the completion of the sale, the chief executive officer now directly owns 77,895 shares of the company’s stock, valued at approximately $6,284,568.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $76.50, for a total transaction of $153,000.00. Following the sale, the vice president now directly owns 35,385 shares of the company’s stock, valued at $2,706,952.50. The disclosure for this sale can be found here. Insiders sold a total of 6,301 shares of company stock valued at $495,113 in the last three months. 0.86% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Primerica by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,085,927 shares of the financial services provider’s stock worth $385,260,000 after purchasing an additional 13,941 shares during the last quarter. BlackRock Inc. lifted its position in shares of Primerica by 22,346.4% during the 1st quarter. BlackRock Inc. now owns 4,448,197 shares of the financial services provider’s stock worth $365,642,000 after purchasing an additional 4,428,380 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Primerica by 1.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,426,797 shares of the financial services provider’s stock worth $259,581,000 after purchasing an additional 54,537 shares during the last quarter. State Street Corp lifted its position in shares of Primerica by 1.3% during the 2nd quarter. State Street Corp now owns 1,780,565 shares of the financial services provider’s stock worth $134,879,000 after purchasing an additional 22,430 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Primerica by 10.7% during the 1st quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock worth $144,053,000 after purchasing an additional 169,689 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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