Primerica, Inc. (NYSE:PRI) has been given an average recommendation of “Hold” by the six research firms that are presently covering the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $83.25.
PRI has been the subject of several recent research reports. Zacks Investment Research cut Primerica from a “buy” rating to a “hold” rating in a report on Wednesday, January 11th. Citigroup Inc initiated coverage on Primerica in a report on Thursday, January 26th. They issued a “neutral” rating and a $76.00 price target for the company. SunTrust Banks, Inc. set a $95.00 price target on Primerica and gave the company a “buy” rating in a report on Saturday, February 11th. Keefe, Bruyette & Woods set a $78.00 price target on Primerica and gave the company a “hold” rating in a report on Friday, March 17th. Finally, Wells Fargo & Co cut Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday.
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Shares of Primerica (NYSE:PRI) traded down 2.41% during midday trading on Wednesday, hitting $83.00. The stock had a trading volume of 633,321 shares. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 18.10 and a beta of 1.15. The stock’s 50 day moving average price is $81.69 and its 200 day moving average price is $71.82. Primerica has a 12 month low of $47.92 and a 12 month high of $85.20.
Primerica (NYSE:PRI) last announced its earnings results on Wednesday, February 8th. The financial services provider reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. Primerica had a return on equity of 17.98% and a net margin of 14.44%. The business earned $393.90 million during the quarter, compared to analysts’ expectations of $386.46 million. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. On average, equities analysts forecast that Primerica will post $5.25 EPS for the current fiscal year.
In other news, insider William A. Kelly sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $82.29, for a total transaction of $205,725.00. Following the completion of the transaction, the insider now directly owns 20,486 shares in the company, valued at $1,685,792.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director P George Benson sold 500 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $81.55, for a total value of $40,775.00. Following the transaction, the director now owns 14,045 shares of the company’s stock, valued at $1,145,369.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,850 shares of company stock valued at $806,755. 1.24% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC bought a new position in Primerica during the fourth quarter worth about $105,000. O Shaughnessy Asset Management LLC raised its position in Primerica by 1.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,582 shares of the financial services provider’s stock worth $109,000 after buying an additional 16 shares during the period. James Investment Research Inc. bought a new position in Primerica during the first quarter worth about $152,000. Fortaleza Asset Management Inc. raised its position in Primerica by 7.8% in the fourth quarter. Fortaleza Asset Management Inc. now owns 2,275 shares of the financial services provider’s stock worth $157,000 after buying an additional 165 shares during the period. Finally, LS Investment Advisors LLC raised its position in Primerica by 5.6% in the third quarter. LS Investment Advisors LLC now owns 3,014 shares of the financial services provider’s stock worth $160,000 after buying an additional 161 shares during the period.
Primerica Company Profile
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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