Keefe, Bruyette & Woods Reiterates Hold Rating for Primerica (NYSE:PRI)

Primerica (NYSE:PRI)‘s stock had its “hold” rating restated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $290.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 17.81% from the company’s previous close.

Other equities research analysts have also issued reports about the company. TD Cowen reiterated a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Morgan Stanley cut their target price on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $293.60.

Primerica Stock Performance

NYSE:PRI opened at $246.17 on Thursday. The company has a 50-day moving average of $257.03 and a 200-day moving average of $261.15. Primerica has a 52 week low of $230.09 and a 52 week high of $291.64. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 10.74 and a beta of 0.92.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.69 by $0.44. The business had revenue of $853.51 million for the quarter, compared to analysts’ expectations of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.03 earnings per share. Sell-side analysts forecast that Primerica will post 20.6 EPS for the current year.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the sale, the president directly owned 11,611 shares of the company’s stock, valued at $2,930,384.18. This trade represents a 13.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the completion of the transaction, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. The trade was a 8.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can lifted its position in Primerica by 5,277.5% during the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after buying an additional 1,287,243 shares in the last quarter. Invesco Ltd. raised its stake in shares of Primerica by 200.3% in the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after acquiring an additional 238,571 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Primerica in the third quarter worth about $51,004,000. Life Cycle Investment Partners Ltd acquired a new position in shares of Primerica during the fourth quarter worth approximately $40,714,000. Finally, Millennium Management LLC lifted its position in shares of Primerica by 183.3% during the fourth quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock worth $54,823,000 after purchasing an additional 137,297 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.