Primerica Inc. (PRI) Sees Unusually-High Trading Volume
Primerica Inc. (NYSE:PRI) saw strong trading volume on Wednesday . 1,063,479 shares changed hands during 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 research analysts recently weighed in on the company. Keefe, Bruyette & Woods downgraded Primerica from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, July 12th. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $58.33.
The stock has a market capitalization of $2.46 billion and a P/E ratio of 13.76. The company has a 50 day moving average price of $56.55 and a 200 day moving average price of $48.54.
Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $363 million for the quarter, compared to analyst estimates of $360.50 million. During the same quarter last year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities 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 the company’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $55.00, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gregory C. Pitts sold 2,500 shares of the company’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $58.07, for a total value of $145,175.00. Following 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.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in PRI. First Trust Advisors LP boosted its position in Primerica by 275.4% in the fourth quarter. First Trust Advisors LP now owns 78,394 shares of the company’s stock worth $3,703,000 after buying an additional 57,512 shares during the period. Brown Advisory Inc. purchased a new position in Primerica during the fourth quarter worth approximately $19,202,000. Liberty Mutual Group Asset Management Inc. boosted its position in Primerica by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 31,979 shares of the company’s stock worth $1,511,000 after buying an additional 10,852 shares during the period. Morgan Stanley boosted its position in Primerica by 130.4% in the fourth quarter. Morgan Stanley now owns 31,015 shares of the company’s stock worth $1,464,000 after buying an additional 17,553 shares during the period. Finally, 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 period.
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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