Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Primerica (NYSE:PRI) Stock

Primerica (NYSE:PRI) had its target price raised by investment analysts at Keefe, Bruyette & Woods from $323.00 to $335.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 6.88% from the stock’s previous close.

A number of other brokerages have also issued reports on PRI. TD Cowen lifted their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 24th. Morgan Stanley raised their price objective on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Finally, Jefferies Financial Group raised their price target on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Primerica presently has an average rating of “Hold” and an average price target of $310.67.

Primerica Trading Down 2.5%

NYSE:PRI opened at $313.44 on Tuesday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 12.59 and a beta of 0.87. The company’s 50-day moving average is $296.40 and its two-hundred day moving average is $275.14. Primerica has a 12-month low of $230.09 and a 12-month high of $327.28.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.46 earnings per share. On average, equities research analysts forecast that Primerica will post 24.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction on Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the transaction, the chief executive officer owned 32,196 shares in the company, valued at $10,309,159.20. The trade was a 4.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 4,800 shares of company stock valued at $1,404,387. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRI. M&T Bank Corp raised its stake in Primerica by 1,155.8% during the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after acquiring an additional 29,578 shares during the period. Moran Wealth Management LLC boosted its stake in Primerica by 168.6% in the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock valued at $5,302,000 after acquiring an additional 12,881 shares during the period. Arbejdsmarkedets Tillaegspension acquired a new position in Primerica in the fourth quarter valued at approximately $23,767,000. Jefferies Financial Group Inc. bought a new position in shares of Primerica during the fourth quarter valued at approximately $2,289,000. Finally, Oxbow Advisors LLC bought a new position in shares of Primerica during the fourth quarter valued at approximately $3,170,000. 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.