Primerica (NYSE:PRI) Rating Lowered to Hold at StockNews.com

Primerica (NYSE:PRI) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Other research analysts also recently issued reports about the stock. Raymond James downgraded shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Truist Financial raised their price objective on shares of Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley increased their price target on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Primerica currently has an average rating of “Hold” and a consensus target price of $245.50.

Primerica Trading Down 0.5 %

Shares of NYSE PRI opened at $218.10 on Tuesday. Primerica has a 1-year low of $176.81 and a 1-year high of $256.56. The company has a 50-day moving average of $236.05 and a two-hundred day moving average of $223.44. The company has a market cap of $7.57 billion, a PE ratio of 13.27 and a beta of 1.10.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21). The company had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.49 EPS. As a group, equities research analysts forecast that Primerica will post 17.78 earnings per share for the current year.

Insider Transactions at Primerica

In related news, Director John A. Jr. Addison sold 1,215 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the sale, the director now owns 16,467 shares in the company, valued at approximately $4,100,283. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the transaction, the director now owns 16,467 shares in the company, valued at approximately $4,100,283. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the sale, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The disclosure for this sale can be found here. Insiders have sold a total of 6,708 shares of company stock valued at $1,648,677 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in Primerica by 110.6% during the 3rd quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock worth $87,200,000 after purchasing an additional 236,051 shares in the last quarter. Norges Bank acquired a new position in Primerica during the 4th quarter worth approximately $31,194,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of Primerica by 86.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock worth $23,010,000 after acquiring an additional 55,076 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Primerica by 47.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after purchasing an additional 40,647 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Primerica in the third quarter worth $6,098,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.