Primerica (NYSE:PRI) Upgraded to Strong-Buy at Zacks Research

Primerica (NYSE:PRI) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms also recently commented on PRI. Piper Sandler set a $292.00 target price on shares of Primerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Morgan Stanley reduced their price objective on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Jefferies Financial Group reduced their price objective on shares of Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a research report on Monday, August 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primerica in a research report on Wednesday, October 8th. Finally, BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $292.00 to $318.00 in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $314.86.

Primerica Price Performance

NYSE:PRI opened at $265.36 on Tuesday. The firm has a 50-day moving average of $270.40 and a 200-day moving average of $266.54. The company has a market cap of $8.59 billion, a PE ratio of 13.11 and a beta of 0.97. Primerica has a one year low of $230.98 and a one year high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping the consensus estimate of $5.18 by $0.28. The company had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.71 earnings per share. On average, equities research analysts expect that Primerica will post 20.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Primerica

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Primerica by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock valued at $994,048,000 after buying an additional 37,994 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of Primerica by 1.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock valued at $364,932,000 after buying an additional 23,454 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Primerica by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider’s stock valued at $173,963,000 after buying an additional 16,350 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Primerica during the 1st quarter valued at approximately $156,019,000. Finally, Fiduciary Management Inc. WI lifted its stake in shares of Primerica by 2.8% during the 1st quarter. Fiduciary Management Inc. WI now owns 490,923 shares of the financial services provider’s stock valued at $139,682,000 after buying an additional 13,402 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.