Primerica (NYSE:PRI – Get Free Report) had its target price boosted by research analysts at Truist Financial from $260.00 to $275.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 11.58% from the stock’s previous close.
Several other analysts also recently issued reports on PRI. Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley raised their price target on shares of Primerica from $190.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $234.20.
Check Out Our Latest Analysis on PRI
Primerica Price Performance
Primerica stock opened at $246.47 on Thursday. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 15.52 and a beta of 1.07. The company’s 50 day simple moving average is $219.97 and its 200 day simple moving average is $209.49. Primerica has a fifty-two week low of $155.68 and a fifty-two week high of $248.04.
Primerica (NYSE:PRI – Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 EPS for the quarter, missing the consensus estimate of $4.27 by ($0.02). Primerica had a return on equity of 27.77% and a net margin of 20.37%. The business had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. During the same period in the previous year, the business posted $3.49 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, analysts predict that Primerica will post 17.75 EPS for the current fiscal year.
Primerica declared that its Board of Directors has approved a stock buyback program on Thursday, November 16th that allows the company to buyback $425.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 5.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
Insider Buying and Selling at Primerica
In other news, CFO Alison S. Rand sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $210.07, for a total value of $630,210.00. Following the completion of the transaction, the chief financial officer now directly owns 6,444 shares in the company, valued at approximately $1,353,691.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.85% of the company’s stock.
Institutional Trading of Primerica
A number of hedge funds and other institutional investors have recently modified their holdings of PRI. Moneta Group Investment Advisors LLC acquired a new position in shares of Primerica in the fourth quarter worth approximately $210,472,000. Norges Bank bought a new position in Primerica during the 4th quarter worth approximately $50,974,000. Invesco Ltd. raised its holdings in Primerica by 110.6% during the 3rd quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock worth $87,200,000 after purchasing an additional 236,051 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Primerica by 27.4% in the 4th quarter. Victory Capital Management Inc. now owns 811,888 shares of the financial services provider’s stock worth $115,142,000 after purchasing an additional 174,822 shares during the period. Finally, Comerica Bank bought a new stake in shares of Primerica in the 2nd quarter valued at $22,500,000. Institutional investors own 90.56% of the company’s stock.
Primerica Company Profile
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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Source: defenseworld.net
