Primerica (NYSE:PRI) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Primerica (NYSE:PRI) had its price objective increased by equities researchers at Keefe, Bruyette & Woods from $315.00 to $320.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 13.76% from the stock’s previous close.

A number of other research firms have also weighed in on PRI. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. TD Cowen increased their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler cut their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Truist Financial increased their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley increased their price objective on shares of Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $311.14.

Primerica Trading Down 1.0 %

NYSE PRI opened at $281.29 on Tuesday. The company has a fifty day simple moving average of $282.17 and a two-hundred day simple moving average of $276.08. The stock has a market cap of $9.39 billion, a P/E ratio of 21.49 and a beta of 1.11. Primerica has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. As a group, sell-side analysts forecast that Primerica will post 19.79 earnings per share for the current year.

Primerica announced that its Board of Directors has initiated a stock buyback 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 reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Primerica

Institutional investors have recently modified their holdings of the stock. Colonial Trust Co SC acquired a new stake in shares of Primerica in the fourth quarter valued at about $25,000. True Wealth Design LLC purchased a new position in shares of Primerica in the fourth quarter worth about $27,000. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the third quarter worth about $31,000. Prospera Private Wealth LLC purchased a new position in shares of Primerica in the third quarter worth about $31,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Primerica in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.