Primerica (NYSE:PRI) PT Lowered to $243.00

Primerica (NYSE:PRI) had its price objective decreased by equities research analysts at Morgan Stanley from $245.00 to $243.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 1.97% from the company’s previous close.

Several other analysts also recently commented on PRI. Jefferies Financial Group raised their price objective on shares of Primerica from $235.00 to $236.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods lifted their target price on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $253.50.

Primerica Price Performance

Shares of NYSE PRI opened at $238.30 on Wednesday. Primerica has a 1 year low of $184.76 and a 1 year high of $256.56. The company has a 50 day simple moving average of $228.25 and a 200 day simple moving average of $230.86. The firm has a market cap of $8.20 billion, a PE ratio of 14.48 and a beta of 1.09.

Primerica (NYSE:PRI) last released its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. During the same quarter in the previous year, the business posted $3.49 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that Primerica will post 17.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the sale, the chief executive officer now directly owns 48,322 shares in the company, valued at $10,764,208.72. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the sale, the president now owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the sale, the chief executive officer now directly owns 48,322 shares of the company’s stock, valued at approximately $10,764,208.72. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

Several hedge funds and other institutional investors have recently bought and sold shares of PRI. NBC Securities Inc. lifted its position in Primerica by 28.1% in the second quarter. NBC Securities Inc. now owns 6,285 shares of the financial services provider’s stock valued at $1,486,000 after purchasing an additional 1,378 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Primerica by 456.8% during the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 7,506 shares in the last quarter. HM Payson & Co. lifted its position in Primerica by 52.5% during the first quarter. HM Payson & Co. now owns 805 shares of the financial services provider’s stock valued at $204,000 after buying an additional 277 shares during the period. SkyView Investment Advisors LLC lifted its position in Primerica by 3.0% during the first quarter. SkyView Investment Advisors LLC now owns 6,209 shares of the financial services provider’s stock valued at $1,571,000 after buying an additional 178 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its position in Primerica by 55.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,648 shares of the financial services provider’s stock valued at $670,000 after buying an additional 940 shares during the period. 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.