Primerica (NYSE:PRI) Receives New Coverage from Analysts at TD Cowen

Equities research analysts at TD Cowen initiated coverage on shares of Primerica (NYSE:PRI) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $314.00 price target on the financial services provider’s stock. TD Cowen’s target price would suggest a potential upside of 16.41% from the company’s current price.

Several other research firms have also weighed in on PRI. Morgan Stanley increased their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Jefferies Financial Group raised their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods boosted their target price on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Finally, Truist Financial lifted their price objective on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and three have 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 $281.67.

Primerica Stock Up 0.9 %

Shares of Primerica stock opened at $269.74 on Wednesday. The business has a fifty day simple moving average of $257.90 and a 200 day simple moving average of $241.33. The stock has a market cap of $9.28 billion, a PE ratio of 16.42 and a beta of 1.09. Primerica has a 12 month low of $184.76 and a 12 month high of $274.52.

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, topping the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.99 EPS. Analysts expect that Primerica will post 18.03 EPS for the current fiscal year.

Insider Buying and Selling at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares in the company, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,500 shares of company stock worth $1,657,015. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Institutional investors and hedge funds have recently made changes to their positions in the stock. Burgundy Asset Management Ltd. increased its holdings in Primerica by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock worth $292,688,000 after buying an additional 17,095 shares during the last quarter. Millennium Management LLC increased its stake in shares of Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after purchasing an additional 678,752 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Primerica by 3.5% in 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 purchasing an additional 21,836 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Primerica by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 218,324 shares of the financial services provider’s stock valued at $55,227,000 after purchasing an additional 10,354 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Primerica by 5.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 112,572 shares of the financial services provider’s stock valued at $23,163,000 after purchasing an additional 5,326 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

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.