Primerica (NYSE:PRI) had its price objective increased by equities researchers at SunTrust Banks to $112.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. SunTrust Banks’ price target indicates a potential upside of 7.18% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Primerica from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $87.00 price target on shares of Primerica in a report on Monday, October 16th. ValuEngine raised Primerica from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $100.00 price target (up from $95.00) on shares of Primerica in a report on Tuesday, January 9th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $95.80.
Primerica (NYSE PRI) opened at $104.50 on Monday. The stock has a market capitalization of $4,620.00, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.61 and a beta of 1.24. Primerica has a 1-year low of $70.00 and a 1-year high of $106.40.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $425.83 million. During the same period in the previous year, the firm posted $1.22 earnings per share. Primerica’s revenue was up 11.4% on a year-over-year basis. research analysts predict that Primerica will post 5.36 EPS for the current fiscal year.
In related news, VP Gregory C. Pitts sold 5,000 shares of the company’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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.86% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC acquired a new position in Primerica in the fourth quarter valued at $105,000. O Shaughnessy Asset Management LLC grew its position 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 valued at $109,000 after acquiring an additional 16 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in Primerica during the second quarter valued at about $125,000. James Investment Research Inc. purchased a new stake in Primerica during the first quarter valued at about $152,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 valued at $158,000 after acquiring an additional 242 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.
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.