William Blair Upgrades Primerica (NYSE:PRI) to “Outperform”

Primerica (NYSE:PRI) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, Briefing.com Automated Import reports.

Several other brokerages have also commented on PRI. ValuEngine upgraded shares of Primerica from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $128.00.

Shares of Primerica stock opened at $130.44 on Thursday. The firm has a market capitalization of $5.39 billion, a P/E ratio of 15.57 and a beta of 1.34. Primerica has a 52 week low of $108.75 and a 52 week high of $138.05. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $126.81 and its two-hundred day moving average is $125.54.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $2.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.11. The company had revenue of $530.94 million for the quarter, compared to analyst estimates of $526.19 million. Primerica had a net margin of 17.90% and a return on equity of 22.88%. During the same period in the prior year, the firm posted $2.01 earnings per share. As a group, research analysts expect that Primerica will post 8.34 earnings per share for the current fiscal year.

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $130.94, for a total transaction of $392,820.00. Following the transaction, the chief executive officer now directly owns 66,620 shares in the company, valued at $8,723,222.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Alison S. Rand sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $134.01, for a total transaction of $268,020.00. Following the transaction, the chief financial officer now owns 15,337 shares in the company, valued at $2,055,311.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,000 shares of company stock worth $1,062,360. Insiders own 0.84% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PRI. Clear Harbor Asset Management LLC acquired a new stake in shares of Primerica during the fourth quarter worth $46,000. NumerixS Investment Technologies Inc lifted its holdings in shares of Primerica by 66.7% during the fourth quarter. NumerixS Investment Technologies Inc now owns 500 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 200 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Primerica by 20.0% during the third quarter. Point72 Asset Management L.P. now owns 600 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 100 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Primerica during the third quarter worth $201,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in shares of Primerica during the third quarter worth $204,000. Institutional investors and hedge funds own 88.92% of the company’s stock.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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