Primerica Inc. (PRI) Shares Gap Up to $50.47
Primerica Inc. (NYSE:PRI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $50.14, but opened at $50.47. Primerica shares last traded at $52.16, with a volume of 222,183 shares changing hands.
Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods lowered Primerica from an “outperform” rating to a “market perform” rating and increased their target price for the company from $58.00 to $60.00 in a research note on Tuesday, July 12th. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, July 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Primerica presently has an average rating of “Buy” and a consensus target price of $58.33.
The firm has a market capitalization of $2.46 billion and a P/E ratio of 13.75. The stock has a 50 day moving average of $54.75 and a 200 day moving average of $49.09.
In related news, COO Gregory C. Pitts sold 2,500 shares of the business’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $58.07, for a total transaction of $145,175.00. Following the sale, the chief operating officer now owns 15,221 shares in the company, valued at approximately $883,883.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey S. Fendler sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $53.21, for a total value of $266,050.00. Following the sale, the executive vice president now owns 33,988 shares in the company, valued at approximately $1,808,501.48. The disclosure for this sale can be found here.
A number of large investors have recently modified their holdings of the company. RS Investment Management Co. LLC raised its stake in shares of Primerica by 17.2% in the fourth quarter. RS Investment Management Co. LLC now owns 732,112 shares of the company’s stock worth $34,578,000 after buying an additional 107,307 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 in the last quarter. I.G. Investment Management LTD. raised its stake in shares of 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 in the last quarter. WBI Investments Inc. purchased a new stake in shares of Primerica during the fourth quarter worth $5,184,000. Finally, Systematic Financial Management LP raised its stake in shares of Primerica by 28.2% in the fourth quarter. Systematic Financial Management LP now owns 85,565 shares of the company’s stock worth $4,041,000 after buying an additional 18,840 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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