Primerica (NYSE:PRI) Downgraded to Hold Rating by StockNews.com

Primerica (NYSE:PRI) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Other analysts have also recently issued research reports about the stock. Piper Sandler lowered their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Truist Financial upped their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, TD Cowen increased their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Primerica presently has an average rating of “Hold” and an average price target of $303.00.

Primerica Price Performance

Shares of PRI opened at $293.94 on Wednesday. The company has a market capitalization of $9.81 billion, a PE ratio of 22.45 and a beta of 1.11. Primerica has a one year low of $184.76 and a one year high of $307.91. The company’s fifty day moving average price is $285.75 and its 200 day moving average price is $270.06.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the firm posted $4.28 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Analysts anticipate that Primerica will post 19.75 earnings per share for the current year.

Primerica announced that its Board of Directors has initiated a stock buyback program on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Several large investors have recently made changes to their positions in PRI. V Square Quantitative Management LLC acquired a new position in Primerica during the third quarter worth $31,000. Prospera Private Wealth LLC acquired a new position in Primerica during the third quarter worth $31,000. UMB Bank n.a. boosted its holdings in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the last quarter. Finally, Quarry LP boosted its holdings in Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 302 shares during the last quarter. Institutional investors 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.