Primerica (PRI) Lifted to “Buy” at ValuEngine
ValuEngine upgraded shares of Primerica (NYSE:PRI) from a hold rating to a buy rating in a research note issued to investors on Sunday morning.
Several other equities research analysts have also recently issued reports on PRI. Zacks Investment Research raised Primerica from a hold rating to a buy rating and set a $96.00 target price on the stock in a report on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $87.00 target price on shares of Primerica in a report on Monday, October 16th. Finally, SunTrust Banks cut Primerica from a buy rating to a hold rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $90.50.
Shares of Primerica (NYSE PRI) opened at $102.05 on Friday. Primerica has a twelve month low of $69.00 and a twelve month high of $106.40. The stock has a market capitalization of $4,493.39, a PE ratio of 19.85, a PEG ratio of 1.67 and a beta of 1.24.
Primerica (NYSE:PRI) last issued its earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The firm had revenue of $427.30 million for the quarter, compared to analysts’ expectations of $425.83 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. equities analysts predict that Primerica will post 5.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.80 annualized dividend and a yield of 0.78%. Primerica’s payout ratio is currently 15.56%.
In other Primerica news, VP Gregory C. Pitts sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total transaction of $462,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Burgundy Asset Management Ltd. increased its stake in Primerica by 2.7% during the third quarter. Burgundy Asset Management Ltd. now owns 1,681,212 shares of the financial services provider’s stock worth $137,103,000 after acquiring an additional 43,558 shares during the last quarter. Yellowstone Partners LLC bought a new stake in Primerica during the third quarter worth approximately $3,223,000. California Public Employees Retirement System increased its stake in Primerica by 2.4% during the third quarter. California Public Employees Retirement System now owns 92,365 shares of the financial services provider’s stock worth $7,532,000 after acquiring an additional 2,165 shares during the last quarter. Crestline Management LP increased its stake in Primerica by 185.6% during the third quarter. Crestline Management LP now owns 41,188 shares of the financial services provider’s stock worth $3,359,000 after acquiring an additional 26,768 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Primerica during the third quarter worth approximately $215,000. 95.89% of the stock is currently owned by institutional investors.
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Primerica Company Profile
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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