Primerica (NYSE:PRI) Given New $300.00 Price Target at Truist Financial

Primerica (NYSE:PRI) had its target price boosted by investment analysts at Truist Financial from $275.00 to $300.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 17.92% from the stock’s current price.

A number of other research firms also recently commented on PRI. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Morgan Stanley dropped their price objective on Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Jefferies Financial Group increased their price objective on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $266.75.

Primerica Stock Performance

PRI stock traded up $5.10 during mid-day trading on Friday, reaching $254.41. The company had a trading volume of 122,608 shares, compared to its average volume of 129,397. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 15.48 and a beta of 1.09. The firm has a fifty day simple moving average of $238.76 and a 200 day simple moving average of $236.18. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $256.56.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The company had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. Primerica’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.99 EPS. As a group, analysts predict that Primerica will post 17.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’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 transaction of $668,280.00. Following the transaction, the chief executive officer now owns 48,322 shares in the company, valued at approximately $10,764,208.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the 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 sale, the president now directly owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Primerica

Hedge funds have recently modified their holdings of the business. ORG Partners LLC acquired a new stake in shares of Primerica in the 4th quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after buying an additional 148 shares during the period. Blue Trust Inc. lifted its holdings in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares during the period. GAMMA Investing LLC acquired a new position in Primerica during the fourth quarter worth $133,000. Finally, Fidelis Capital Partners LLC acquired a new position in Primerica during the first quarter worth $163,000. 90.88% of the stock is owned by institutional investors and hedge funds.

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.