Primerica’s (PRI) Hold Rating Reaffirmed at Wells Fargo & Company
Primerica, Inc. (NYSE:PRI)‘s stock had its “hold” rating reissued by investment analysts at Wells Fargo & Company in a research note issued on Tuesday.
The analysts wrote, “We are concerned that some of the recent growth is of low quality, and prone to lapsation in early years.””
A number of other research analysts also recently commented on PRI. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $81.00 price target on shares of Primerica in a research note on Monday, April 10th. William Blair downgraded Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Finally, BidaskClub raised Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.20.
Primerica (NYSE:PRI) traded down 0.18% during midday trading on Tuesday, hitting $81.75. 382,583 shares of the stock traded hands. The stock has a market capitalization of $3.72 billion, a PE ratio of 17.09 and a beta of 1.14. Primerica has a 12-month low of $51.94 and a 12-month high of $86.45. The firm’s 50 day moving average is $77.85 and its 200-day moving average is $78.79.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.04. The company had revenue of $405.20 million during the quarter, compared to analyst estimates of $401.58 million. Primerica had a net margin of 14.49% and a return on equity of 18.22%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. On average, analysts anticipate that Primerica will post $5.23 EPS for the current fiscal year.
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In other Primerica news, VP Alison S. Rand sold 2,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $71.55, for a total transaction of $143,100.00. Following the completion of the transaction, the vice president now owns 37,385 shares of the company’s stock, valued at $2,674,896.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.24% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. James Investment Research Inc. acquired a new position in shares of Primerica during the first quarter valued at approximately $152,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Primerica by 13.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock valued at $158,000 after buying an additional 242 shares during the last quarter. Independent Portfolio Consultants Inc. acquired a new position in shares of Primerica during the second quarter valued at approximately $211,000. World Asset Management Inc increased its position in shares of Primerica by 0.6% in the second quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock valued at $216,000 after buying an additional 18 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in shares of Primerica by 1.7% in the first quarter. TD Asset Management Inc. now owns 3,030 shares of the financial services provider’s stock valued at $249,000 after buying an additional 52 shares during the last quarter. 97.09% of the stock is owned by hedge funds and other institutional investors.
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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