Keefe, Bruyette & Woods restated their hold rating on shares of Primerica, Inc. (NYSE:PRI) in a report published on Monday. The firm currently has a $87.00 price objective on the financial services provider’s stock.
PRI has been the subject of several other research reports. Zacks Investment Research raised shares of Primerica from a hold rating to a buy rating and set a $96.00 price objective for the company in a research note on Wednesday, October 11th. Wells Fargo & Company reaffirmed a hold rating on shares of Primerica in a research note on Tuesday, August 8th. Finally, BidaskClub raised shares of Primerica from a buy rating to a strong-buy rating in a research note on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $88.50.
Shares of Primerica (PRI) traded down 0.28% during midday trading on Monday, reaching $89.00. The company’s stock had a trading volume of 69,578 shares. Primerica has a 12-month low of $52.75 and a 12-month high of $89.60. The stock has a 50-day moving average of $79.09 and a 200 day moving average of $78.81. The firm has a market capitalization of $3.99 billion, a P/E ratio of 18.13 and a beta of 1.17.
Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The firm had revenue of $413.70 million during the quarter, compared to the consensus estimate of $410.97 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts predict that Primerica will post $5.22 EPS for the current fiscal year.
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In other news, President Peter W. Schneider sold 1,301 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $76.92, for a total value of $100,072.92. Following the completion of the sale, the president now owns 28,138 shares of the company’s stock, valued at approximately $2,164,374.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Alison S. Rand sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total transaction of $153,000.00. Following the completion of the sale, the vice president now directly owns 35,385 shares of the company’s stock, valued at approximately $2,706,952.50. The disclosure for this sale can be found here. In the last three months, insiders sold 6,301 shares of company stock valued at $495,113. Corporate insiders own 0.86% of the company’s stock.
Several institutional investors have recently bought and sold shares of PRI. BlackRock Inc. grew its stake in shares of Primerica by 22,346.4% in the 1st quarter. BlackRock Inc. now owns 4,448,197 shares of the financial services provider’s stock valued at $365,642,000 after buying an additional 4,428,380 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Primerica by 142.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 858,611 shares of the financial services provider’s stock valued at $70,578,000 after buying an additional 503,786 shares during the period. Vanguard Group Inc. grew its stake in shares of Primerica by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,071,986 shares of the financial services provider’s stock valued at $416,917,000 after buying an additional 307,797 shares during the period. Koch Industries Inc. purchased a new stake in shares of Primerica in the 2nd quarter valued at approximately $237,000. Finally, FMR LLC grew its stake in shares of Primerica by 10.7% in the 1st quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock valued at $144,053,000 after buying an additional 169,689 shares during the period. 94.82% of the stock is owned by institutional investors and hedge funds.
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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