Primerica (NYSE:PRI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Primerica (NYSE:PRI) had its price target raised by equities researchers at Morgan Stanley from $308.00 to $313.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 10.18% from the stock’s previous close.

A number of other analysts have also recently issued reports on the stock. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. BMO Capital Markets began coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Truist Financial boosted their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, TD Cowen boosted their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $310.43.

Primerica Trading Down 0.0 %

Shares of PRI traded down $0.07 during midday trading on Friday, hitting $284.08. The stock had a trading volume of 7,506 shares, compared to its average volume of 137,694. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $307.91. The business has a 50-day simple moving average of $282.68 and a two-hundred day simple moving average of $275.45. The firm has a market cap of $9.48 billion, a P/E ratio of 21.69 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. On average, analysts expect that Primerica will post 19.79 earnings per share for the current fiscal year.

Primerica declared that its Board of Directors has initiated a stock buyback program on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its position in Primerica by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after buying an additional 36 shares in the last quarter. Mariner LLC increased its stake in shares of Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 36 shares during the last quarter. Creative Planning increased its stake in shares of Primerica by 0.7% in the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after acquiring an additional 40 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Primerica by 0.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after acquiring an additional 43 shares during the last quarter. Finally, Dana Investment Advisors Inc. increased its stake in shares of Primerica by 1.2% in the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock valued at $1,012,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

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.