Primerica (NYSE:PRI) Stock Rating Lowered by StockNews.com

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

A number of other equities analysts also recently issued reports on PRI. BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Keefe, Bruyette & Woods dropped their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. TD Cowen raised their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler dropped their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, Truist Financial raised their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $304.14.

Primerica Price Performance

Shares of PRI stock traded up $0.60 during trading hours on Friday, reaching $296.91. 138,848 shares of the company’s stock were exchanged, compared to its average volume of 137,286. The company has a market cap of $9.91 billion, a P/E ratio of 22.68 and a beta of 1.11. The company’s 50 day moving average is $283.49 and its two-hundred day moving average is $274.17. Primerica has a 1 year low of $184.76 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.28 EPS. As a group, analysts predict that Primerica will post 19.79 EPS for the current fiscal year.

Primerica announced that its Board of Directors has approved a share repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in shares of Primerica during the third quarter worth $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica during the third quarter worth $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Primerica during the fourth quarter worth $33,000. UMB Bank n.a. boosted its holdings in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the last quarter. 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.