Primerica (NYSE:PRI) Price Target Cut to $304.00 by Analysts at Morgan Stanley

Primerica (NYSE:PRI - Get Free Report) had its price target decreased by stock analysts at Morgan Stanley from $313.00 to $304.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price target would suggest a potential upside of 5.15% from the company's current price.

Several other analysts have also issued reports on PRI. BMO Capital Markets assumed coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price for the company. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Piper Sandler cut their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $309.86.

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Primerica Trading Down 0.3 %

Shares of PRI traded down $0.90 on Friday, reaching $289.10. The company's stock had a trading volume of 195,770 shares, compared to its average volume of 142,727. Primerica has a twelve month low of $184.76 and a twelve month high of $307.91. The stock has a market capitalization of $9.65 billion, a PE ratio of 21.03 and a beta of 1.11. The firm has a fifty day moving average of $282.64 and a 200-day moving average of $278.28.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, equities analysts anticipate that Primerica will post 20.6 EPS for the current fiscal year.

Primerica declared that its board has authorized a stock repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares of the company's stock, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Primerica

A number of hedge funds and other institutional investors have recently bought and sold shares of PRI. Geode Capital Management LLC raised its stake in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock valued at $184,807,000 after purchasing an additional 25,951 shares during the period. Barclays PLC grew its holdings in Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock valued at $5,428,000 after buying an additional 10,635 shares in the last quarter. Sylvest Advisors LLC purchased a new position in Primerica during the 4th quarter valued at about $543,000. Oak Thistle LLC increased its position in shares of Primerica by 64.9% during the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider's stock valued at $1,340,000 after buying an additional 1,943 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Primerica by 10.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock worth $32,573,000 after buying an additional 11,612 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

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.