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 Tuesday.

A number of other equities research analysts have also recently commented on the stock. Truist Financial raised their price objective on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Raymond James lowered shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Morgan Stanley upped their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $245.50.

Primerica Stock Performance

NYSE PRI traded down $3.21 on Tuesday, reaching $219.34. 410,944 shares of the company’s stock traded hands, compared to its average volume of 165,972. The stock has a 50 day moving average price of $236.60 and a 200-day moving average price of $223.48. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 13.81 and a beta of 1.10. Primerica has a fifty-two week low of $176.81 and a fifty-two week high of $256.56.

Primerica (NYSE:PRI) last issued its earnings results on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The company had revenue of $742.83 million during the quarter, compared to analysts’ expectations of $740.57 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.49 EPS. As a group, equities research analysts anticipate that Primerica will post 17.78 EPS for the current fiscal year.

Insider Activity

In related news, Director John A. Jr. Addison sold 1,215 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total transaction of $302,535.00. Following the completion of the transaction, the director now owns 16,467 shares in the company, valued at approximately $4,100,283. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the sale, the director now directly owns 16,467 shares of the company’s stock, valued at $4,100,283. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the transaction, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The disclosure for this sale can be found here. Insiders have sold a total of 6,708 shares of company stock worth $1,648,677 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of Primerica

Several large investors have recently bought and sold shares of PRI. Invesco Ltd. boosted its holdings in shares of Primerica by 110.6% during the 3rd quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock worth $87,200,000 after purchasing an additional 236,051 shares during the last quarter. Norges Bank purchased a new stake in Primerica in the 4th quarter valued at $31,194,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Primerica by 86.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock worth $23,010,000 after acquiring an additional 55,076 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Primerica by 47.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after acquiring an additional 40,647 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of Primerica in the third quarter valued at about $6,098,000. 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.