Primerica, Inc. (NYSE:PRI) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.
Several other equities research analysts have also commented on PRI. Wells Fargo & Company lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday, April 20th. William Blair lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $81.00 price objective on shares of Primerica in a research note on Friday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $83.75.
Primerica (PRI) traded down 0.59% during midday trading on Friday, hitting $76.40. 104,301 shares of the stock were exchanged. The firm’s 50 day moving average price is $79.21 and its 200 day moving average price is $79.20. Primerica has a 12 month low of $52.50 and a 12 month high of $86.45. The company has a market cap of $3.43 billion, a PE ratio of 15.56 and a beta of 1.14.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The business had revenue of $413.70 million during the quarter, compared to analyst estimates of $410.97 million. During the same quarter in the previous year, the business posted $1.23 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts forecast that Primerica will post $5.22 earnings per share for the current fiscal year.
In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total transaction of $242,040.00. Following the completion of the transaction, the chief executive officer now owns 77,895 shares in the company, valued at approximately $6,284,568.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Alison S. Rand sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $71.55, for a total transaction of $143,100.00. Following the transaction, the vice president now owns 37,385 shares of the company’s stock, valued at approximately $2,674,896.75. The disclosure for this sale can be found here. Insiders own 1.24% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc purchased a new position in Primerica during the second quarter valued at approximately $125,000. Colony Group LLC bought a new stake in Primerica during the second quarter valued at $298,000. Koch Industries Inc. bought a new stake in Primerica during the second quarter valued at $237,000. Nomura Holdings Inc. bought a new stake in Primerica during the second quarter valued at $283,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Primerica during the second quarter valued at $282,000. Hedge funds and other institutional investors own 96.76% of the company’s stock.
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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