Primerica (NYSE:PRI) Rating Lowered to “Hold” at 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 on Monday.

Several other research firms have also recently issued reports on PRI. Piper Sandler began coverage on Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price for the company. Truist Financial increased their target price on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Jefferies Financial Group increased their target price on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. TD Cowen began coverage on Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 target price for the company. Finally, Morgan Stanley increased their target price on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $281.67.

Primerica Stock Up 0.2 %

PRI traded up $0.45 during midday trading on Monday, reaching $274.89. The company had a trading volume of 88,820 shares, compared to its average volume of 154,480. The business has a 50-day moving average of $267.44 and a two-hundred day moving average of $246.68. The company has a market cap of $9.30 billion, a P/E ratio of 22.01 and a beta of 1.08. Primerica has a 1 year low of $184.76 and a 1 year high of $284.37.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The business had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. During the same quarter in the prior year, the business posted $3.99 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities research analysts predict that Primerica will post 18.13 EPS for the current year.

Insider Buying and Selling at Primerica

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares in the company, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the sale, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $1,657,015 in the last quarter. 0.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Several institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC lifted its stake in shares of Primerica by 8.7% in the 3rd 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. Meritage Portfolio Management lifted its stake in shares of Primerica by 104.9% during the 3rd quarter. Meritage Portfolio Management now owns 2,887 shares of the financial services provider’s stock worth $765,000 after acquiring an additional 1,478 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Primerica by 106.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,680 shares of the financial services provider’s stock worth $1,241,000 after acquiring an additional 2,415 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of Primerica during the 3rd quarter worth approximately $221,000. Finally, Atria Investments Inc lifted its stake in shares of Primerica by 8.0% during the 3rd quarter. Atria Investments Inc now owns 8,950 shares of the financial services provider’s stock worth $2,373,000 after acquiring an additional 662 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

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.