StockNews.com Upgrades Primerica (NYSE:PRI) to “Buy”

Primerica (NYSE:PRI) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other research firms have also commented on PRI. Morgan Stanley lifted their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Truist Financial lifted their price target on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Piper Sandler initiated coverage on Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price for the company. Finally, Jefferies Financial Group increased their price target on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Primerica presently has an average rating of “Hold” and an average target price of $275.20.

Primerica Trading Up 2.2 %

Shares of NYSE PRI opened at $274.24 on Friday. Primerica has a 12-month low of $184.76 and a 12-month high of $274.52. The firm’s 50-day moving average price is $257.54 and its 200-day moving average price is $241.29. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 16.69 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.99 earnings per share. On average, equities analysts predict that Primerica will post 18.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock valued at $1,657,015 over the last quarter. 0.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primerica

Hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its holdings in Primerica by 10.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,603 shares of the financial services provider’s stock worth $330,000 after buying an additional 149 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of Primerica during the 4th quarter worth $676,000. Crossmark Global Holdings Inc. boosted its position in Primerica by 37.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,082 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 1,110 shares in the last quarter. Schroder Investment Management Group grew its stake in Primerica by 13.6% in the fourth quarter. Schroder Investment Management Group now owns 124,155 shares of the financial services provider’s stock valued at $25,546,000 after purchasing an additional 14,904 shares during the last quarter. Finally, O Dell Group LLC bought a new position in Primerica in the fourth quarter worth about $153,000. 90.88% of the stock is currently owned by institutional investors.

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.