Primerica (NYSE:PRI – Get Free Report) had its price objective lifted by equities researchers at Keefe, Bruyette & Woods from $290.00 to $305.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 12.61% from the stock’s current price.
PRI has been the subject of a number of other research reports. Morgan Stanley lowered their price target on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. TD Cowen reissued a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a research note on Wednesday, May 6th. Finally, Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Primerica has a consensus rating of “Hold” and an average target price of $296.60.
View Our Latest Research Report on PRI
Primerica Trading Down 1.1%
Primerica (NYSE:PRI – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating 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 business had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. During the same quarter last year, the business earned $5.02 earnings per share. Primerica’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Primerica will post 23.92 earnings per share for the current year.
Insider Activity
In related news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at $7,023,582.72. This represents a 8.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the sale, the president directly owned 11,611 shares of the company’s stock, valued at approximately $2,930,384.18. The trade was a 13.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.63% of the company’s stock.
Institutional Investors Weigh In On Primerica
Several hedge funds and other institutional investors have recently modified their holdings of PRI. Root Financial Partners LLC purchased a new stake in Primerica in the third quarter worth $27,000. Smartleaf Asset Management LLC lifted its position in shares of Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 69 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Primerica in the fourth quarter worth about $30,000. Finally, Quent Capital LLC bought a new position in shares of Primerica in the third quarter worth about $33,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.
Primerica Company Profile
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.
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