Primerica (NYSE:PRI) Upgraded at StockNews.com

Primerica (NYSE:PRI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also commented on PRI. Truist Financial boosted their price objective on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Piper Sandler assumed coverage on shares of Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 price target on the stock. Morgan Stanley raised their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods upped their target price 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. Finally, Jefferies Financial Group raised their price target on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $275.20.

Primerica Stock Up 0.9 %

Shares of PRI stock opened at $266.56 on Wednesday. The company has a market capitalization of $9.17 billion, a P/E ratio of 16.23 and a beta of 1.09. Primerica has a 12-month low of $184.76 and a 12-month high of $267.92. The firm has a 50-day moving average price of $255.16 and a 200 day moving average price of $240.31.

Primerica (NYSE:PRI) last posted its earnings results 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 company had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. Primerica’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.99 earnings per share. As a group, research analysts expect that Primerica will post 17.94 earnings per share for the current year.

Insider Transactions at Primerica

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRI. Sanctuary Advisors LLC bought a new position in shares of Primerica during the second quarter worth $1,098,000. Dana Investment Advisors Inc. raised its stake in Primerica by 13.1% during the 2nd quarter. Dana Investment Advisors Inc. now owns 3,462 shares of the financial services provider’s stock worth $819,000 after buying an additional 400 shares during the period. Truist Financial Corp lifted its holdings in Primerica by 8.5% during the second quarter. Truist Financial Corp now owns 8,004 shares of the financial services provider’s stock worth $1,894,000 after acquiring an additional 630 shares in the last quarter. Creative Planning grew its stake in Primerica by 2.8% in the second quarter. Creative Planning now owns 6,043 shares of the financial services provider’s stock valued at $1,430,000 after acquiring an additional 167 shares during the period. Finally, Algert Global LLC increased its holdings in shares of Primerica by 24.5% in the second quarter. Algert Global LLC now owns 17,818 shares of the financial services provider’s stock worth $4,215,000 after acquiring an additional 3,509 shares in the last quarter. Institutional investors and hedge funds 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.