StockNews.com Upgrades Primerica (NYSE:PRI) to “Buy”

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

A number of other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Piper Sandler started coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Jefferies Financial Group raised their price target on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Truist Financial boosted their price target on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Morgan Stanley raised their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $275.20.

Primerica Trading Up 0.9 %

Shares of PRI stock opened at $266.56 on Wednesday. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 16.23 and a beta of 1.09. Primerica has a 1-year low of $184.76 and a 1-year high of $267.92. The stock’s fifty day simple moving average is $255.16 and its 200-day simple moving average is $240.31.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The company had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. During the same quarter in the prior year, the company earned $3.99 EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts predict that Primerica will post 17.94 EPS for the current year.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $1,657,015 over the last 90 days. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

A number of hedge funds have recently bought and sold shares of PRI. ORG Partners LLC acquired a new position in shares of Primerica during the second quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. raised its holdings in Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 148 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Primerica during the 2nd quarter worth approximately $71,000. Finally, O Dell Group LLC acquired a new stake in shares of Primerica during the 4th quarter worth approximately $153,000. 90.88% of the stock is owned by institutional investors.

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.