Primerica’s (PRI) “Market Perform” Rating Reiterated at Keefe, Bruyette & Woods

Primerica (NYSE:PRI)‘s stock had its “market perform” rating reaffirmed by Keefe, Bruyette & Woods in a report released on Thursday,Benzinga reports. They presently have a $290.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 14.92% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Morgan Stanley lowered their target price on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $293.60.

Primerica Stock Up 0.2%

Shares of PRI traded up $0.47 during mid-day trading on Thursday, hitting $252.36. The stock had a trading volume of 45,154 shares, compared to its average volume of 219,167. Primerica has a fifty-two week low of $230.09 and a fifty-two week high of $293.58. The company has a market cap of $7.99 billion, a PE ratio of 11.02 and a beta of 0.92. The company’s fifty day simple moving average is $257.70 and its two-hundred day simple moving average is $261.41.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The business had revenue of $853.51 million for the quarter, compared to analyst estimates of $839.65 million. During the same period in the prior year, the company posted $5.03 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that Primerica will post 20.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. This trade represents a 8.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the sale, the president directly owned 11,611 shares in the company, valued at $2,930,384.18. The trade was a 13.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its holdings in shares of Primerica by 18.1% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock valued at $66,000 after buying an additional 39 shares in the last quarter. Seeds Investor LLC boosted its position 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 purchasing an additional 42 shares during the period. Orion Porfolio Solutions LLC raised its holdings in Primerica by 1.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 45 shares during the period. SkyView Investment Advisors LLC lifted its stake in Primerica by 0.7% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 46 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Primerica by 6.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 757 shares of the financial services provider’s stock worth $195,000 after buying an additional 47 shares during the period. Institutional investors own 90.88% of the company’s stock.

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.