Primerica (NYSE:PRI) Stock Rating Upgraded by Zacks Research

Primerica (NYSE:PRI) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley set a $292.00 target price on shares of Primerica in a research note on Monday, December 15th. Weiss Ratings lowered Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, January 21st. Piper Sandler set a $292.00 price objective on Primerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods lowered their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Primerica presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.00.

Primerica Stock Performance

Shares of NYSE PRI traded up $2.39 during trading on Monday, reaching $258.55. The stock had a trading volume of 38,636 shares, compared to its average volume of 185,528. The company has a market cap of $8.25 billion, a P/E ratio of 11.89 and a beta of 0.90. Primerica has a fifty-two week low of $230.98 and a fifty-two week high of $298.75. The business’s 50-day moving average price is $259.28 and its 200-day moving average price is $263.80.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, beating analysts’ consensus estimates of $5.52 by $0.81. The company had revenue of $838.88 million during the quarter, compared to analysts’ expectations of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.Primerica’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the business posted $4.83 EPS. Analysts forecast that Primerica will post 20.6 EPS for the current fiscal year.

Primerica declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 19th that allows the company to repurchase $475.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Joel M. Babbit sold 700 shares of Primerica stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total transaction of $178,500.00. Following the sale, the director directly owned 8,400 shares in the company, valued at $2,142,000. This trade represents a 7.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the sale, the president directly owned 7,301 shares of the company’s stock, valued at approximately $1,863,945.30. This trade represents a 21.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 5,200 shares of company stock valued at $1,338,225. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently made changes to their positions in the company. M&T Bank Corp grew its stake in Primerica by 1,155.8% during the 4th quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after buying an additional 29,578 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Primerica by 34.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 16,488 shares of the financial services provider’s stock valued at $4,280,000 after acquiring an additional 4,201 shares during the period. TD Waterhouse Canada Inc. grew its position in shares of Primerica by 6.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 757 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 47 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Primerica by 2.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,690 shares of the financial services provider’s stock valued at $2,504,000 after acquiring an additional 245 shares during the period. Finally, Seeds Investor LLC increased its holdings in shares of Primerica by 3.2% in the 4th quarter. Seeds Investor LLC now owns 1,374 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 42 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.