Primerica (NYSE:PRI) Stock Rating Lowered by StockNews.com

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

PRI has been the topic of a number of other research reports. Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. TD Cowen boosted their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Truist Financial boosted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Stock Up 0.2 %

NYSE:PRI traded up $0.60 on Friday, reaching $296.91. The company’s stock had a trading volume of 138,848 shares, compared to its average volume of 137,286. Primerica has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 22.68 and a beta of 1.11. The stock has a 50 day moving average price of $283.49 and a 200 day moving average price of $274.17.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the business earned $4.28 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts expect that Primerica will post 19.79 EPS for the current fiscal year.

Primerica declared that its board has initiated a stock buyback program on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of 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 represents a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PRI. Geode Capital Management LLC boosted its position in shares of Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after purchasing an additional 25,951 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Primerica in the 4th quarter valued at about $34,191,000. Raymond James & Associates boosted its position in shares of Primerica by 4.6% in the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock valued at $32,176,000 after purchasing an additional 5,323 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after purchasing an additional 11,612 shares during the period. Finally, Prospector Partners LLC boosted its position in shares of Primerica by 0.3% in the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock valued at $20,431,000 after purchasing an additional 210 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

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.