Primerica (NYSE:PRI) Lowered to “Hold” Rating by StockNews.com

Primerica (NYSE:PRI) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other equities analysts have also issued reports on PRI. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. TD Cowen initiated coverage on shares of Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 target price on the stock. Jefferies Financial Group upped their price target on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Piper Sandler assumed coverage on shares of Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Finally, Truist Financial boosted their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $288.33.

Primerica Stock Down 1.1 %

PRI traded down $3.36 during midday trading on Thursday, hitting $296.82. 121,603 shares of the company traded hands, compared to its average volume of 154,726. The firm has a market capitalization of $9.90 billion, a PE ratio of 22.68 and a beta of 1.08. The company’s 50-day moving average is $272.02 and its 200 day moving average is $250.23. Primerica has a 52 week low of $184.76 and a 52 week high of $304.84.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $4.28 EPS. On average, sell-side analysts predict that Primerica will post 19.12 earnings per share for the current fiscal year.

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

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. This trade represents a 12.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,500 shares of company stock worth $1,803,175. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Primerica

A number of hedge funds have recently bought and sold shares of the company. Blair William & Co. IL increased its position in shares of Primerica by 24.5% during the 1st quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock valued at $3,076,000 after purchasing an additional 2,393 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Primerica by 456.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock worth $2,164,000 after buying an additional 7,506 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Primerica during the first quarter worth $979,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Primerica during the second quarter valued at $3,514,000. Finally, SG Americas Securities LLC purchased a new position in Primerica in the second quarter valued at about $893,000. Institutional investors own 90.88% of the company’s stock.

Primerica Company Profile

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.