StockNews.com Downgrades Primerica (NYSE:PRI) to Hold

Primerica (NYSE:PRI - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Thursday.

Several other research firms have also recently weighed in on PRI. Keefe, Bruyette & Woods lowered their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report on Friday, January 10th. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. BMO Capital Markets began coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price objective on the stock. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Finally, Truist Financial raised their price target on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $304.14.

Primerica Trading Down 0.3 %

PRI stock traded down $0.78 during trading on Thursday, hitting $290.97. 157,962 shares of the stock traded hands, compared to its average volume of 137,528. The company has a 50 day simple moving average of $284.72 and a 200 day simple moving average of $272.53. Primerica has a one year low of $184.76 and a one year high of $307.91. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of 22.23 and a beta of 1.11.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analysts' expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.28 EPS. As a group, analysts predict that Primerica will post 19.79 earnings per share for the current fiscal year.

Primerica announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

A number of hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in shares of Primerica by 27.3% in the fourth quarter. Allworth Financial LP now owns 331 shares of the financial services provider's stock worth $97,000 after buying an additional 71 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Primerica in the 4th quarter worth approximately $8,767,000. Everhart Financial Group Inc. lifted its holdings in Primerica by 2.5% during the fourth quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider's stock valued at $726,000 after purchasing an additional 65 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Primerica by 34.0% in the fourth quarter. Van ECK Associates Corp now owns 28,995 shares of the financial services provider's stock worth $7,870,000 after purchasing an additional 7,349 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Primerica by 4,150.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,123 shares of the financial services provider's stock worth $1,120,000 after purchasing an additional 4,026 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

About Primerica

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.