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

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

PRI has been the topic of several other research reports. Truist Financial upped their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen upped 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. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report 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 for the company in a report on Friday, January 10th. Finally, BMO Capital Markets initiated coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Stock Up 0.6 %

NYSE PRI opened at $291.83 on Thursday. Primerica has a 12-month low of $184.76 and a 12-month high of $307.91. The firm’s 50 day moving average is $284.77 and its 200-day moving average is $272.40. The company has a market capitalization of $9.74 billion, a PE ratio of 22.29 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.28 EPS. As a group, sell-side analysts expect that Primerica will post 19.79 EPS for the current year.

Primerica declared that its board has initiated a stock repurchase plan on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

Hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Primerica during the third quarter valued at about $31,000. Prospera Private Wealth LLC purchased a new position in shares of Primerica in the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC purchased a new position in shares of Primerica in the 4th quarter worth approximately $33,000. UMB Bank n.a. grew its holdings in shares of Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Primerica by 56.8% during the third 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. 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.