Primerica’s (PRI) “Hold” Rating Reiterated at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods restated their hold rating on shares of Primerica, Inc. (NYSE:PRI) in a research report report published on Monday morning. Keefe, Bruyette & Woods currently has a $87.00 target price on the financial services provider’s stock.
Other analysts have also issued research reports about the company. BidaskClub lowered Primerica from a strong-buy rating to a buy rating in a report on Friday, August 18th. Zacks Investment Research upgraded Primerica from a hold rating to a buy rating and set a $96.00 price target on the stock in a report on Wednesday, October 11th. Finally, Wells Fargo & Company restated a hold rating on shares of Primerica in a report on Tuesday, August 8th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $88.50.
Shares of Primerica (NYSE:PRI) traded down 1.41% on Monday, hitting $87.45. 99,944 shares of the stock traded hands. The firm has a 50 day moving average price of $80.05 and a 200 day moving average price of $78.97. Primerica has a 52-week low of $52.75 and a 52-week high of $88.05. The firm has a market cap of $3.93 billion, a PE ratio of 17.81 and a beta of 1.17.
Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The company had revenue of $413.70 million for the quarter, compared to analyst estimates of $410.97 million. During the same quarter in the prior year, the firm posted $1.23 EPS. Primerica’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities analysts forecast that Primerica will post $5.22 EPS for the current year.
In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total value of $242,040.00. Following the transaction, the chief executive officer now owns 77,895 shares of the company’s stock, valued at approximately $6,284,568.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total value of $153,000.00. Following the completion of the transaction, the vice president now directly owns 35,385 shares in the company, valued at approximately $2,706,952.50. The disclosure for this sale can be found here. Insiders sold a total of 6,301 shares of company stock worth $495,113 in the last ninety days. 0.86% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in PRI. Mountain Capital Investment Advisors Inc bought a new position in Primerica in the 2nd quarter valued at $125,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Primerica by 13.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 242 shares during the last quarter. Flinton Capital Management LLC grew its position in Primerica by 69.5% in the 2nd quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 912 shares during the last quarter. Riverhead Capital Management LLC grew its position in Primerica by 68.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 1,030 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. bought a new position in Primerica in the 2nd quarter valued at $211,000. 94.82% of the stock is currently owned by institutional investors.
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. 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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