Primerica Inc. (PRI) Sees Strong Trading Volume
Primerica Inc. (NYSE:PRI) saw unusually-strong trading volume on Wednesday . Approximately 1,063,479 shares were traded during mid-day trading, an increase of 69% from the previous session’s volume of 628,496 shares.The stock last traded at $53.08 and had previously closed at $53.25.
Several analysts have issued reports on PRI shares. Zacks Investment Research cut shares of Primerica from a “hold” rating to a “sell” rating in a research note on Wednesday, April 20th. Keefe, Bruyette & Woods lowered shares of Primerica from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $58.00 to $60.00 in a report on Tuesday, July 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $58.33.
The company has a market cap of $2.47 billion and a PE ratio of 13.81. The company has a 50-day moving average price of $56.68 and a 200 day moving average price of $48.51.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. The company earned $363 million during the quarter, compared to the consensus estimate of $360.50 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Primerica Inc. will post $4.22 earnings per share for the current fiscal year.
In other news, insider William A. Kelly sold 1,500 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $55.00, for a total value of $82,500.00. Following the transaction, the insider now directly owns 28,130 shares in the company, valued at $1,547,150. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gregory C. Pitts sold 2,500 shares of the company’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $58.07, for a total transaction of $145,175.00. Following the completion of the transaction, the chief operating officer now owns 15,221 shares in the company, valued at $883,883.47. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Primerica by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,633,620 shares of the company’s stock worth $77,158,000 after buying an additional 130,628 shares during the last quarter. Wells Fargo & Company MN boosted its position in Primerica by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 907,963 shares of the company’s stock worth $42,883,000 after buying an additional 11,566 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position 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 worth $25,504,000 after buying an additional 30,000 shares during the last quarter. Brown Advisory Inc. bought a new position in Primerica during the fourth quarter worth approximately $19,202,000. Finally, I.G. Investment Management LTD. boosted its position in Primerica by 1.0% in the fourth quarter. I.G. Investment Management LTD. now owns 182,397 shares of the company’s stock worth $8,615,000 after buying an additional 1,816 shares during 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.