Truist Financial Increases Primerica (NYSE:PRI) Price Target to $300.00

Primerica (NYSE:PRI) had its price objective hoisted by research analysts at Truist Financial from $275.00 to $300.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price indicates a potential upside of 17.92% from the company’s current price.

Several other research analysts have also recently issued reports on PRI. Morgan Stanley cut their target price on Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Keefe, Bruyette & Woods boosted their price objective on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group boosted their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $266.75.

Primerica Trading Up 2.0 %

PRI stock traded up $5.10 during mid-day trading on Friday, reaching $254.41. The company’s stock had a trading volume of 122,608 shares, compared to its average volume of 129,397. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 15.48 and a beta of 1.09. Primerica has a 12 month low of $184.76 and a 12 month high of $256.56. The business’s 50 day moving average price is $238.76 and its 200 day moving average price is $236.18.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. Primerica’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 earnings per share. As a group, equities analysts expect that Primerica will post 17.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $227.44, for a total transaction of $341,160.00. Following the transaction, the president now owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $227.44, for a total transaction of $341,160.00. Following the transaction, the president now owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $222.76, for a total value of $668,280.00. Following the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at approximately $10,764,208.72. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently modified their holdings of PRI. Norges Bank purchased a new stake in shares of Primerica in the 4th quarter valued at about $31,194,000. Los Angeles Capital Management LLC raised its holdings in shares of Primerica by 47.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after acquiring an additional 40,647 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Primerica during the 2nd quarter valued at about $71,000. Dimensional Fund Advisors LP raised its holdings in shares of Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after buying an additional 21,836 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Primerica by 13.6% during the 4th quarter. Schroder Investment Management Group now owns 124,155 shares of the financial services provider’s stock valued at $25,546,000 after buying an additional 14,904 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

About Primerica

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.