Primerica (NYSE:PRI) Lifted to Buy at StockNews.com

Primerica (NYSE:PRI - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday.

A number of other research analysts also recently weighed in on the company. Jefferies Financial Group upped their price target on Primerica from $239.00 to $249.00 and gave the stock a "hold" rating in a research note on Thursday, July 18th. Truist Financial boosted their price objective on Primerica from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price objective on Primerica from $255.00 to $275.00 and gave the stock a "market perform" rating in a report on Wednesday, July 17th. Finally, Morgan Stanley decreased their price objective on Primerica from $245.00 to $243.00 and set an "equal weight" rating for the company in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $266.75.

Primerica Stock Performance

Shares of NYSE:PRI traded up $3.29 during midday trading on Wednesday, reaching $256.52. The company's stock had a trading volume of 120,420 shares, compared to its average volume of 164,432. The firm has a 50 day moving average price of $239.89 and a two-hundred day moving average price of $236.63. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $256.56. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 15.61 and a beta of 1.09.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping analysts' consensus estimates of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The business had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. During the same period in the prior year, the business earned $3.99 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. As a group, research analysts anticipate that Primerica will post 17.83 earnings per share for the current year.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now directly owns 45,322 shares of the company's stock, valued at $11,446,071.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the company's stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the transaction, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $1,767,090 over the last three months. Corporate insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Primerica

Several institutional investors have recently bought and sold shares of PRI. International Assets Investment Management LLC lifted its stake in Primerica by 20,472.7% in the fourth quarter. International Assets Investment Management LLC now owns 2,263 shares of the financial services provider's stock valued at $466,000 after purchasing an additional 2,252 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Primerica during the fourth quarter worth $26,000. Louisiana State Employees Retirement System purchased a new stake in shares of Primerica during the fourth quarter worth $2,016,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Primerica by 10.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,166 shares of the financial services provider's stock worth $1,680,000 after acquiring an additional 764 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Primerica during the fourth quarter worth $133,000. Hedge funds and other 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.

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