Primerica (NYSE:PRI) Stock Price Expected to Rise, Truist Financial Analyst Says

Primerica (NYSE:PRI - Get Free Report) had its target price boosted by equities research analysts at Truist Financial from $300.00 to $340.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Truist Financial's target price suggests a potential upside of 14.12% from the stock's current price.

A number of other analysts have also recently commented on the company. StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a research note on Monday. Morgan Stanley increased their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a report on Monday, August 19th. Piper Sandler started coverage on shares of Primerica in a research report on Friday, August 30th. They set a "neutral" rating and a $283.00 price target on the stock. TD Cowen began coverage on shares of Primerica in a research report on Wednesday, October 9th. They issued a "buy" rating and a $314.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised their price objective on Primerica from $255.00 to $275.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Primerica has an average rating of "Hold" and an average target price of $288.33.

Primerica Trading Up 2.5 %

Primerica stock traded up $7.29 during mid-day trading on Friday, hitting $297.94. The stock had a trading volume of 177,788 shares, compared to its average volume of 155,150. The stock has a market capitalization of $10.08 billion, a PE ratio of 22.65 and a beta of 1.08. Primerica has a 12 month low of $184.76 and a 12 month high of $298.29. The stock has a 50-day simple moving average of $268.94 and a two-hundred day simple moving average of $247.72.

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 net margin of 14.95% and a return on equity of 30.28%. The business had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same period in the previous year, the firm posted $3.99 earnings per share. Primerica's revenue for the quarter was up 16.7% compared to the same quarter last year. Sell-side analysts expect that Primerica will post 18.13 earnings per share for the current fiscal year.

Insider Transactions at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the sale, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now directly owns 15,151 shares of the company's stock, valued at approximately $3,846,081.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now directly owns 10,259 shares in the company, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock valued at $1,657,015 over the last three months. Company insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Primerica

Institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of Primerica in the 2nd quarter valued at about $30,000. V Square Quantitative Management LLC bought a new position in Primerica during the third quarter worth about $31,000. Prospera Private Wealth LLC bought a new position in Primerica during the third quarter worth about $31,000. UMB Bank n.a. increased its position in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock worth $38,000 after buying an additional 67 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock valued at $49,000 after buying an additional 60 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.