Primerica (NYSE:PRI) Price Target Raised to $291.00

Primerica (NYSE:PRI) had its price objective raised by analysts at Morgan Stanley from $280.00 to $291.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 3.58% from the company’s previous close.

PRI has been the topic of several other reports. TD Cowen reissued a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods lifted their target price on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Primerica in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $297.80.

Primerica Stock Performance

NYSE PRI traded down $0.11 during trading on Thursday, hitting $280.95. The stock had a trading volume of 11,330 shares, compared to its average volume of 207,972. Primerica has a 12 month low of $230.09 and a 12 month high of $288.03. The company’s 50-day moving average price is $264.58 and its two-hundred day moving average price is $261.00. The company has a market capitalization of $8.76 billion, a PE ratio of 11.78 and a beta of 0.91.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The company had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $855.36 million. During the same period last year, the business earned $5.02 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Primerica will post 24.2 earnings per share for the current fiscal year.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the transaction, the president owned 9,811 shares of the company’s stock, valued at $2,743,548.04. This trade represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Primerica

Several hedge funds have recently bought and sold shares of PRI. Vista Investment Partners II LLC acquired a new position in shares of Primerica in the 4th quarter valued at about $1,685,000. First Trust Advisors LP lifted its stake in Primerica by 12.4% in the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after buying an additional 54,158 shares during the period. M&T Bank Corp boosted its holdings in shares of Primerica by 1,155.8% during the 4th quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after buying an additional 29,578 shares in the last quarter. Prana Capital Management LP grew its position in shares of Primerica by 22.8% during the 3rd quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock worth $18,575,000 after buying an additional 12,432 shares during the period. Finally, Moran Wealth Management LLC increased its stake in shares of Primerica by 168.6% in the 4th quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock valued at $5,302,000 after acquiring an additional 12,881 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.