Primerica (NYSE:PRI) Cut to Hold at StockNews.com

StockNews.com cut shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a research note released on Friday.

Several other research firms also recently issued reports on PRI. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. TD Cowen boosted their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial raised 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, Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Trading Up 0.2 %

Shares of NYSE:PRI opened at $296.91 on Friday. The firm has a 50 day simple moving average of $283.37 and a 200-day simple moving average of $274.65. Primerica has a twelve month low of $184.76 and a twelve month high of $307.91. The company has a market capitalization of $9.91 billion, a PE ratio of 22.68 and a beta of 1.11.

Primerica declared that its Board of Directors 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 repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Primerica

Several hedge funds have recently made changes to their positions in PRI. Geode Capital Management LLC grew its holdings in Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after acquiring an additional 25,951 shares during the period. Barclays PLC boosted its position in shares of Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after purchasing an additional 10,635 shares in the last quarter. Sylvest Advisors LLC acquired a new position in shares of Primerica during the 4th quarter worth $543,000. Oak Thistle LLC increased its holdings in shares of Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after purchasing an additional 1,943 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Primerica in the third quarter valued at about $3,710,000. Institutional investors and hedge funds 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.