Wells Fargo & Co Reaffirms “Market Perform” Rating for Primerica (PRI)
Primerica (NYSE:PRI)‘s stock had its “market perform” rating restated by stock analysts at Wells Fargo & Co in a report issued on Tuesday, The Fly reports. They currently have a $100.00 price objective on the financial services provider’s stock, up from their prior price objective of $95.00. Wells Fargo & Co’s target price indicates a potential downside of 3.29% from the company’s current price.
A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Wednesday, October 11th. ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $95.00 price target on shares of Primerica in a report on Friday, November 10th. Finally, SunTrust Banks lowered Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Primerica presently has an average rating of “Hold” and an average target price of $92.40.
Primerica (NYSE:PRI) opened at $103.40 on Tuesday. The stock has a market capitalization of $4,580.00, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. Primerica has a fifty-two week low of $69.00 and a fifty-two week high of $106.40.
In other Primerica news, VP Gregory C. Pitts sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total value of $462,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Flinton Capital Management LLC bought a new stake in Primerica during the fourth quarter worth about $105,000. O Shaughnessy Asset Management LLC lifted its stake in Primerica by 1.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,582 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 16 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Primerica during the second quarter worth about $125,000. James Investment Research Inc. bought a new stake in Primerica during the first quarter worth about $152,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Primerica by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 242 shares during the last quarter. Institutional investors and hedge funds own 95.89% of the company’s stock.
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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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