Truist Financial Raises Primerica (NYSE:PRI) Price Target to $300.00

Primerica (NYSE:PRI) had its price target hoisted by stock analysts at Truist Financial from $275.00 to $300.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 19.55% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on PRI. Jefferies Financial Group lifted their target price on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods increased their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley cut their target price on Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and an average target price of $266.75.

Primerica Trading Up 0.7 %

Shares of NYSE:PRI traded up $1.64 on Friday, hitting $250.95. The company had a trading volume of 6,730 shares, compared to its average volume of 165,069. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 15.10 and a beta of 1.09. The stock has a 50 day moving average price of $238.19 and a 200 day moving average price of $235.94. Primerica has a 1-year low of $184.76 and a 1-year high of $256.56.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.24. Primerica had a net margin of 20.44% and a return on equity of 27.35%. The firm had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. During the same period in the prior year, the firm earned $3.99 EPS. The business’s revenue was up 16.7% on a year-over-year basis. Sell-side analysts anticipate that Primerica will post 17.73 earnings per share for the current fiscal year.

Insider Activity at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $227.44, for a total transaction of $341,160.00. Following the completion of the sale, the president now directly owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the transaction, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the transaction, the chief executive officer now owns 48,322 shares in the company, valued at approximately $10,764,208.72. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Primerica

A number of institutional investors have recently added to or reduced their stakes in PRI. International Assets Investment Management LLC boosted its holdings in shares of Primerica by 20,472.7% in the 4th quarter. International Assets Investment Management LLC now owns 2,263 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 2,252 shares in the last quarter. Sapient Capital LLC purchased a new stake in Primerica in the fourth quarter worth approximately $474,000. ORG Partners LLC bought a new position in Primerica during the fourth quarter valued at approximately $26,000. Louisiana State Employees Retirement System purchased a new position in shares of Primerica during the fourth quarter worth approximately $2,016,000. Finally, Lecap Asset Management Ltd. bought a new stake in Primerica in the fourth quarter worth $305,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

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.