Primerica (PRI) Upgraded to “Buy” at ValuEngine
Primerica (NYSE:PRI) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Sunday.
PRI has been the subject of a number of other research reports. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a report on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $95.00 target price on shares of Primerica in a report on Friday, November 10th. Finally, SunTrust Banks cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Primerica presently has an average rating of “Hold” and an average price target of $90.50.
Shares of Primerica (PRI) opened at $101.55 on Friday. The firm has a market cap of $4,493.38, a PE ratio of 19.76, a P/E/G ratio of 1.89 and a beta of 1.24. Primerica has a 52-week low of $68.90 and a 52-week high of $106.40.
In other news, VP Gregory C. Pitts sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total value of $462,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc acquired a new position in shares of Primerica in the second quarter valued at approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Primerica by 13.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock valued at $158,000 after buying an additional 242 shares during the period. Flinton Capital Management LLC increased its stake in shares of Primerica by 69.5% in the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock valued at $169,000 after buying an additional 912 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Primerica by 68.7% in the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock valued at $192,000 after buying an additional 1,030 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of Primerica in the third quarter valued at approximately $204,000. 95.89% of the stock is owned by institutional investors.
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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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