Primerica, Inc. (PRI) Stock Rating Lowered by Zacks Investment Research
Primerica, Inc. (NYSE:PRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
According to Zacks, “Primerica, Inc. provides financial products and services. It assists its clients in meeting their needs for term life insurance, which it underwrites, and mutual funds, variable annuities and other financial products, which it distributes primarily on behalf of third parties. The Company’s mission is to serve middle income families by helping them make informed financial decisions and providing them with a strategy and means to gain financial independence. The Company’s sales representatives use its proprietary financial needs analysis, or FNA, tool and an educational approach to demonstrate how its products can assist clients to provide financial protection for their families, save for their retirement and manage their debt. The Company’s clients are generally middle income consumers. Primerica also provides an entrepreneurial business opportunity for individuals to distribute its financial products. The Company is based in Duluth, Georgia. “
Several other equities research analysts have also weighed in on PRI. William Blair lowered Primerica from an “outperform” rating to a “market perform” rating in a report on Friday, April 21st. They noted that the move was a valuation call. Wells Fargo & Company lowered Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday, April 20th. BidaskClub upgraded Primerica from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $81.00 target price on shares of Primerica in a report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Primerica has a consensus rating of “Hold” and a consensus price target of $83.75.
Primerica (PRI) traded down 0.31% during midday trading on Friday, hitting $80.60. 247,502 shares of the company’s stock traded hands. The company has a market capitalization of $3.62 billion, a PE ratio of 16.42 and a beta of 1.14. The company has a 50 day moving average of $78.71 and a 200-day moving average of $79.09. Primerica has a 52 week low of $52.50 and a 52 week high of $86.45.
Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The business had revenue of $413.70 million during the quarter, compared to analysts’ expectations of $410.97 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. Equities research analysts predict that Primerica will post $5.23 earnings per share for the current year.
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In related news, VP Alison S. Rand sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $71.55, for a total value of $143,100.00. Following the completion of the sale, the vice president now directly owns 37,385 shares in the company, valued at approximately $2,674,896.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.24% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PRI. BlackRock Inc. raised its position in shares of Primerica by 22,346.4% in the first quarter. BlackRock Inc. now owns 4,448,197 shares of the financial services provider’s stock worth $365,642,000 after buying an additional 4,428,380 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Primerica by 142.0% in the first quarter. Goldman Sachs Group Inc. now owns 858,611 shares of the financial services provider’s stock worth $70,578,000 after buying an additional 503,786 shares during the period. Vanguard Group Inc. raised its position in shares of Primerica by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,071,986 shares of the financial services provider’s stock worth $416,917,000 after buying an additional 307,797 shares during the period. Bank of New York Mellon Corp raised its position in shares of Primerica by 21.7% in the first quarter. Bank of New York Mellon Corp now owns 1,096,136 shares of the financial services provider’s stock worth $90,104,000 after buying an additional 195,245 shares during the period. Finally, FMR LLC raised its position in shares of Primerica by 10.7% in the first quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock worth $144,053,000 after buying an additional 169,689 shares during the period. Institutional investors own 97.09% of the company’s stock.
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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