Keefe, Bruyette & Woods Has Lowered Expectations for Primerica (NYSE:PRI) Stock Price

Primerica (NYSE:PRI) had its target price lowered by equities research analysts at Keefe, Bruyette & Woods from $320.00 to $315.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 26.92% from the stock’s previous close.

PRI has been the subject of a number of other research reports. Morgan Stanley decreased their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. Finally, StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $309.14.

Primerica Trading Down 5.5 %

Primerica stock opened at $248.19 on Wednesday. The firm has a market capitalization of $8.21 billion, a P/E ratio of 18.05 and a beta of 1.03. The stock’s fifty day simple moving average is $280.18 and its 200-day simple moving average is $282.03. Primerica has a twelve month low of $184.76 and a twelve month high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Sell-side analysts predict that Primerica will post 20.6 earnings per share for the current year.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,234 shares of company stock valued at $1,476,575. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Several hedge funds have recently modified their holdings of PRI. Colonial Trust Co SC acquired a new position in Primerica in the 4th quarter valued at $25,000. True Wealth Design LLC purchased a new stake in shares of Primerica in the fourth quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new position in shares of Primerica during the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC raised its holdings in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

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.