Shares of Primerica, Inc. (NYSE:PRI) have been given an average recommendation of “Hold” by the six brokerages that are presently covering the company. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $83.25.
A number of research analysts have issued reports on PRI shares. Citigroup Inc started coverage on Primerica in a research report on Thursday, January 26th. They issued a “neutral” rating and a $76.00 target price on the stock. Zacks Investment Research cut Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday, January 11th. Keefe, Bruyette & Woods set a $78.00 target price on Primerica and gave the company a “hold” rating in a research report on Friday, March 17th. SunTrust Banks, Inc. set a $95.00 target price on Primerica and gave the company a “buy” rating in a research report on Saturday, February 11th. Finally, Wells Fargo & Co cut Primerica from an “outperform” rating to a “market perform” rating in a research report on Thursday.
Primerica (NYSE:PRI) traded down 2.18% during midday trading on Wednesday, reaching $83.20. 619,998 shares of the company traded hands. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 18.15 and a beta of 1.15. The firm has a 50 day moving average of $81.69 and a 200-day moving average of $71.82. Primerica has a 12 month low of $47.92 and a 12 month high of $85.20.
Primerica (NYSE:PRI) last released its earnings results on Wednesday, February 8th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.19. Primerica had a return on equity of 17.98% and a net margin of 14.44%. The firm had revenue of $393.90 million for the quarter, compared to analysts’ expectations of $386.46 million. During the same quarter in the previous year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts forecast that Primerica will post $5.25 EPS for the current fiscal year.
In related news, Director P George Benson sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $81.55, for a total value of $40,775.00. Following the sale, the director now directly owns 14,045 shares in the company, valued at $1,145,369.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William A. Kelly sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $82.29, for a total value of $205,725.00. Following the completion of the sale, the insider now owns 20,486 shares in the company, valued at $1,685,792.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,850 shares of company stock worth $806,755. Company insiders own 1.24% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PRI. Victory Capital Management Inc. raised its position in shares of Primerica by 498.6% in the third quarter. Victory Capital Management Inc. now owns 2,217,490 shares of the financial services provider’s stock valued at $117,593,000 after buying an additional 1,847,026 shares during the period. Smith Asset Management Group LP acquired a new position in shares of Primerica during the third quarter valued at about $2,627,000. Alps Advisors Inc. acquired a new position in shares of Primerica during the third quarter valued at about $465,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Primerica during the third quarter valued at about $1,352,000. Finally, Aperio Group LLC raised its position in shares of Primerica by 5.7% in the third quarter. Aperio Group LLC now owns 29,620 shares of the financial services provider’s stock valued at $1,571,000 after buying an additional 1,595 shares during the period.
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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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