Primerica Inc. (PRI) Trading Down 6.4%
Shares of Primerica Inc. (NYSE:PRI) were down 6.4% during mid-day trading on Tuesday . The stock traded as low as $52.32 and last traded at $53.24, with a volume of 1,664,691 shares. The stock had previously closed at $56.87.
Several analysts have recently issued reports on PRI shares. Zacks Investment Research downgraded Primerica from a “hold” rating to a “sell” rating in a research note on Wednesday, April 20th. Keefe, Bruyette & Woods downgraded Primerica from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, July 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Primerica has an average rating of “Buy” and a consensus target price of $58.33.
The firm’s 50 day moving average is $56.78 and its 200 day moving average is $48.48. The firm has a market capitalization of $2.51 billion and a PE ratio of 14.00.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The business had revenue of $363 million for the quarter, compared to analyst estimates of $360.50 million. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. Analysts forecast that Primerica Inc. will post $4.22 earnings per share for the current year.
In other Primerica news, insider William A. Kelly sold 1,500 shares of Primerica stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $55.00, for a total value of $82,500.00. Following the sale, the insider now owns 28,130 shares of the company’s stock, valued at approximately $1,547,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey S. Fendler sold 5,000 shares of Primerica stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $53.21, for a total value of $266,050.00. Following the completion of the sale, the executive vice president now directly owns 33,988 shares in the company, valued at approximately $1,808,501.48. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in PRI. Dimensional Fund Advisors LP increased its stake in Primerica by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,633,620 shares of the company’s stock valued at $77,158,000 after buying an additional 130,628 shares in the last quarter. Wells Fargo & Company MN increased its stake in Primerica by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 907,963 shares of the company’s stock valued at $42,883,000 after buying an additional 11,566 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Primerica by 5.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 540,000 shares of the company’s stock valued at $25,504,000 after buying an additional 30,000 shares in the last quarter. Brown Advisory Inc. purchased a new stake in Primerica during the fourth quarter valued at about $19,202,000. Finally, I.G. Investment Management LTD. increased its stake in Primerica by 1.0% in the fourth quarter. I.G. Investment Management LTD. now owns 182,397 shares of the company’s stock valued at $8,615,000 after buying an additional 1,816 shares in the last quarter.
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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