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.
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.
