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

Primerica (NYSE:PRI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Other analysts have also recently issued research reports about the stock. Truist Financial boosted their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. Finally, TD Cowen boosted their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $304.14.

Primerica Trading Down 0.4 %

Shares of Primerica stock opened at $290.14 on Thursday. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 22.16 and a beta of 1.11. The firm’s 50 day simple moving average is $284.59 and its two-hundred day simple moving average is $272.66. Primerica has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter last year, the company earned $4.28 EPS. The business’s revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that Primerica will post 19.79 EPS for the current fiscal year.

Primerica announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Primerica

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

Hedge Funds Weigh In On Primerica

Several hedge funds have recently added to or reduced their stakes in PRI. Geode Capital Management LLC grew its stake in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after buying an additional 25,951 shares during the period. Raymond James & Associates lifted its stake in Primerica by 4.6% during the third quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock worth $32,176,000 after purchasing an additional 5,323 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Primerica by 8.7% during the third quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider’s stock valued at $28,742,000 after purchasing an additional 8,641 shares during the last quarter. Prospector Partners LLC lifted its position in Primerica by 0.3% in the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock valued at $20,431,000 after purchasing an additional 210 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in Primerica by 0.5% during the 3rd quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock worth $16,965,000 after acquiring an additional 333 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

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.