Primerica (NYSE:PRI) Downgraded by StockNews.com to “Hold”

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

PRI has been the topic of several other reports. TD Cowen lifted their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial boosted their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler decreased their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $296.33.

Primerica Trading Down 0.4 %

Shares of PRI traded down $1.03 during trading hours on Monday, hitting $275.37. The company had a trading volume of 173,769 shares, compared to its average volume of 164,589. The company has a market capitalization of $9.19 billion, a PE ratio of 21.04 and a beta of 1.11. Primerica has a one year low of $184.76 and a one year high of $307.91. The company’s fifty day moving average price is $286.27 and its two-hundred day moving average price is $266.62.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same period in the previous year, the company posted $4.28 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Analysts forecast that Primerica will post 19.32 earnings per share for the current year.

Primerica declared that its Board of Directors has authorized a share 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 usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position 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 valued at $184,807,000 after acquiring an additional 25,951 shares in the last quarter. Barclays PLC increased its holdings 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 valued at $5,428,000 after purchasing an additional 10,635 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Primerica in the 3rd quarter valued at $3,710,000. BNP Paribas Financial Markets boosted its holdings in Primerica by 320.6% during the third quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock worth $1,525,000 after buying an additional 4,383 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Primerica during the third quarter valued at $646,000. Hedge funds and other institutional investors 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.