Primerica (NYSE:PRI – Get Rating) had its target price cut by stock analysts at Truist Financial from $163.00 to $150.00 in a report released on Friday, The Fly reports. Truist Financial’s price objective would suggest a potential upside of 25.32% from the stock’s previous close.
A number of other analysts have also recently issued reports on the company. StockNews.com assumed coverage on Primerica in a report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley cut Primerica from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $153.00 to $148.00 in a report on Thursday, May 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Primerica has an average rating of “Hold” and a consensus target price of $161.60.
NYSE PRI opened at $119.69 on Friday. Primerica has a 12 month low of $110.22 and a 12 month high of $179.51. The company has a 50-day moving average of $122.83 and a 200-day moving average of $135.57. The company has a market cap of $4.66 billion, a P/E ratio of 13.34 and a beta of 1.36.
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Primerica (NYSE:PRI – Get Rating) last issued its earnings results on Thursday, May 5th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.68). Primerica had a return on equity of 22.07% and a net margin of 12.92%. The firm had revenue of $691.30 million for the quarter, compared to analysts’ expectations of $731.25 million. During the same quarter in the previous year, the firm posted $2.44 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts expect that Primerica will post 11.85 EPS for the current fiscal year.
In other Primerica news, CEO Glenn J. Williams sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $119.32, for a total value of $477,280.00. Following the completion of the transaction, the chief executive officer now owns 62,215 shares in the company, valued at approximately $7,423,493.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Brave Warrior Advisors LLC boosted its stake in shares of Primerica by 1.5% during the 4th quarter. Brave Warrior Advisors LLC now owns 1,929,120 shares of the financial services provider’s stock valued at $295,676,000 after buying an additional 27,591 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in shares of Primerica by 1.3% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,267,988 shares of the financial services provider’s stock valued at $194,345,000 after buying an additional 16,379 shares during the last quarter. State Street Corp boosted its stake in shares of Primerica by 5.7% during the 1st quarter. State Street Corp now owns 1,106,268 shares of the financial services provider’s stock valued at $151,360,000 after buying an additional 59,671 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Primerica by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 683,815 shares of the financial services provider’s stock valued at $104,808,000 after buying an additional 55,776 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Primerica by 3.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 455,552 shares of the financial services provider’s stock valued at $69,822,000 after buying an additional 13,109 shares during the last quarter. Institutional investors own 90.90% of the company’s stock.
About Primerica (Get Rating)
Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.
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