StockNews.com Downgrades Primerica (NYSE:PRI) to Hold

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

Other equities analysts have also recently issued research reports about the stock. Truist Financial lifted their target price on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Morgan Stanley increased their target price on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price target on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $245.50.

Primerica Stock Performance

NYSE:PRI opened at $218.10 on Tuesday. Primerica has a 1 year low of $176.81 and a 1 year high of $256.56. The stock has a fifty day moving average price of $236.05 and a two-hundred day moving average price of $223.44. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 13.27 and a beta of 1.10.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). Primerica had a return on equity of 27.83% and a net margin of 20.37%. The company had revenue of $742.83 million for the quarter, compared to analyst estimates of $740.57 million. During the same period last year, the company earned $3.49 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that Primerica will post 17.78 EPS for the current year.

Insider Transactions at Primerica

In related news, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the transaction, the chief operating officer now owns 3,379 shares of the company’s stock, valued at $829,307.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the transaction, the insider now directly owns 100 shares in the company, valued at $24,981. 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 in the last three months. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Primerica

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC raised its position in Primerica by 1.4% in the fourth quarter. Intech Investment Management LLC now owns 3,924 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 55 shares during the period. PFW Advisors LLC lifted its position in Primerica by 3.8% during the 4th quarter. PFW Advisors LLC now owns 1,521 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 56 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Primerica by 1.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,744 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 59 shares during the period. Arizona State Retirement System boosted its holdings in Primerica by 0.6% in the 3rd quarter. Arizona State Retirement System now owns 10,314 shares of the financial services provider’s stock worth $2,001,000 after acquiring an additional 60 shares during the period. Finally, Everhart Financial Group Inc. grew its position in Primerica by 4.5% in the fourth quarter. Everhart Financial Group Inc. now owns 1,614 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds 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.