Primerica (NYSE:PRI) Rating Lowered to “Hold” at StockNews.com

Primerica (NYSE:PRI) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other brokerages have also recently issued reports on PRI. Jefferies Financial Group increased their price objective on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. TD Cowen initiated coverage on shares of Primerica in a research note on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price target for the company. Truist Financial boosted their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Piper Sandler started coverage on Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Finally, Morgan Stanley boosted their target price on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $288.33.

Primerica Price Performance

Primerica stock opened at $298.41 on Thursday. The firm has a 50 day simple moving average of $272.79 and a 200-day simple moving average of $250.55. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 22.74 and a beta of 1.08. Primerica has a 1-year low of $184.76 and a 1-year high of $304.84.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.28 earnings per share. Equities analysts expect that Primerica will post 19.12 earnings per share for the current fiscal year.

Primerica announced that its board has approved a stock repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction 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 in the company, valued at $2,678,727.49. This trade represents a 12.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. The trade was a 11.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,803,175 in the last 90 days. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new position in Primerica during the second quarter worth $30,000. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the third quarter valued at $31,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica during the 3rd quarter worth $31,000. UMB Bank n.a. boosted its position in shares of Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other 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.