Primerica, Inc. (NYSE:PRI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Primerica, Inc. (NYSE:PRI) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $281.67.

PRI has been the subject of several recent research reports. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley boosted their target price 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 raised their price target 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 assumed coverage on shares of Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Finally, TD Cowen assumed coverage on shares of Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 target price on the stock.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now directly owns 10,259 shares of the company’s stock, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, 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 sale, the president now directly owns 10,259 shares of the company’s stock, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their position. 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 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of Primerica

A number of hedge funds have recently made changes to their positions in PRI. Commonwealth Equity Services LLC lifted its holdings in shares of Primerica by 19.4% during the first quarter. Commonwealth Equity Services LLC now owns 2,797 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 455 shares during the period. BNP Paribas Financial Markets lifted its holdings in Primerica by 75.8% during the 1st quarter. BNP Paribas Financial Markets now owns 4,167 shares of the financial services provider’s stock worth $1,054,000 after buying an additional 1,797 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Primerica by 7.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,126 shares of the financial services provider’s stock valued at $2,561,000 after buying an additional 721 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Primerica by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,661 shares of the financial services provider’s stock valued at $7,756,000 after buying an additional 397 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Primerica by 136.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock worth $1,599,000 after acquiring an additional 3,649 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Price Performance

Shares of PRI opened at $290.94 on Thursday. The company’s 50-day moving average is $268.36 and its 200-day moving average is $247.42. The firm has a market capitalization of $9.84 billion, a PE ratio of 23.29 and a beta of 1.08. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $295.67.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. During the same period in the prior year, the firm earned $3.99 EPS. The business’s revenue was up 16.7% on a year-over-year basis. Analysts predict that Primerica will post 18.13 earnings per share for the current fiscal year.

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.