Primerica (PRI) Rating Increased to Buy at ValuEngine

Primerica (NYSE:PRI) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Wednesday, October 11th. Wells Fargo & Co reissued a “market perform” rating and issued a $100.00 price objective (up previously from $95.00) on shares of Primerica in a research note on Tuesday, January 9th. SunTrust Banks raised their price target on shares of Primerica to $112.00 and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $95.00 price target on shares of Primerica in a research note on Friday, November 10th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $100.75.

Primerica (PRI) traded down $1.20 during trading hours on Friday, hitting $101.00. 274,483 shares of the stock were exchanged, compared to its average volume of 171,012. Primerica has a 52 week low of $70.00 and a 52 week high of $108.05. The company has a market capitalization of $4,469.05, a PE ratio of 19.65, a P/E/G ratio of 1.47 and a beta of 1.14.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. Primerica had a net margin of 14.55% and a return on equity of 18.94%. The business had revenue of $427.30 million during the quarter, compared to analyst estimates of $425.83 million. During the same quarter last year, the business posted $1.22 earnings per share. Primerica’s revenue for the quarter was up 11.4% compared to the same quarter last year. research analysts forecast that Primerica will post 5.36 EPS for the current year.

In other news, VP Gregory C. Pitts sold 5,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total transaction of $462,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc acquired a new stake in Primerica in the second quarter worth $125,000. Flinton Capital Management LLC grew its holdings in Primerica by 69.5% in the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 912 shares during the period. Parametrica Management Ltd acquired a new stake in Primerica in the fourth quarter worth $203,000. Magnetar Financial LLC acquired a new stake in Primerica in the third quarter worth $204,000. Finally, Jane Street Group LLC acquired a new stake in Primerica in the third quarter worth $215,000. Institutional investors own 96.02% 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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