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

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

PRI has been the topic of several other reports. Piper Sandler started coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. TD Cowen started coverage on Primerica in a research note on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Morgan Stanley upped their price target on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Finally, Truist Financial upped their price target on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Primerica has a consensus rating of “Hold” and a consensus price target of $281.67.

Primerica Price Performance

NYSE PRI traded up $0.45 during trading on Monday, hitting $274.89. 88,820 shares of the company’s stock traded hands, compared to its average volume of 154,480. The stock has a fifty day moving average of $267.44 and a two-hundred day moving average of $246.68. Primerica has a 12-month low of $184.76 and a 12-month high of $284.37. The firm has a market cap of $9.30 billion, a P/E ratio of 22.01 and a beta of 1.08.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. 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 previous year, the firm earned $3.99 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. As a group, analysts expect that Primerica will post 18.13 earnings per share for the current fiscal year.

Insider Transactions at Primerica

In other news, 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 directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,500 shares of company stock valued at $1,657,015. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRI. ORG Partners LLC bought a new position in Primerica in the second quarter valued at about $30,000. V Square Quantitative Management LLC bought a new position in Primerica in the third quarter valued at about $31,000. UMB Bank n.a. lifted its holdings in 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 during the period. Blue Trust Inc. lifted its holdings in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in Primerica in the second quarter valued at about $71,000. 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.