Primerica (NYSE:PRI) Upgraded by StockNews.com to Buy

Primerica (NYSE:PRI) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley boosted their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Piper Sandler initiated coverage on Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Truist Financial upped their target price on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group raised their price target on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $275.20.

Primerica Price Performance

Shares of PRI stock opened at $274.24 on Friday. The stock’s fifty day moving average price is $257.54 and its 200 day moving average price is $241.29. Primerica has a 1-year low of $184.76 and a 1-year high of $274.52. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 16.69 and a beta of 1.09.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating the consensus estimate of $4.47 by $0.24. The firm had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. Primerica’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm posted $3.99 EPS. As a group, equities research analysts anticipate that Primerica will post 18.03 earnings per share for the current year.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,500 shares of company stock worth $1,657,015. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Primerica

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in Primerica by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock valued at $3,164,000 after acquiring an additional 3,345 shares during the period. Blair William & Co. IL increased its stake in shares of Primerica by 24.5% during the first quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock worth $3,076,000 after purchasing an additional 2,393 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Primerica by 456.8% during the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock worth $2,164,000 after purchasing an additional 7,506 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Primerica by 136.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock worth $1,599,000 after purchasing an additional 3,649 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Primerica in the 1st quarter valued at about $979,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

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.