ValuEngine Lowers Primerica (NYSE:PRI) to Sell

ValuEngine cut shares of Primerica (NYSE:PRI) from a hold rating to a sell rating in a research report report published on Friday morning, ValuEngine reports.

Separately, Zacks Investment Research downgraded shares of Primerica from a buy rating to a hold rating in a report on Thursday, October 10th.

Primerica stock opened at $121.47 on Friday. The company’s 50-day moving average price is $122.04 and its 200-day moving average price is $122.25. Primerica has a twelve month low of $90.28 and a twelve month high of $132.17. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.04. The company has a market cap of $5.08 billion, a PE ratio of 16.57 and a beta of 1.37.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.07. Primerica had a net margin of 17.66% and a return on equity of 22.77%. The firm had revenue of $504.90 million for the quarter, compared to the consensus estimate of $503.84 million. During the same period in the previous year, the firm posted $1.93 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Primerica will post 8.2 earnings per share for the current fiscal year.

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $110.83, for a total transaction of $332,490.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alison S. Rand sold 2,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.64, for a total transaction of $239,280.00. Following the transaction, the chief financial officer now owns 17,337 shares in the company, valued at $2,074,198.68. The disclosure for this sale can be found here. Insiders have sold a total of 8,000 shares of company stock worth $929,550 over the last quarter. 0.84% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of PRI. TCI Wealth Advisors Inc. boosted its position in Primerica by 50.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 300 shares of the financial services provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its position in Primerica by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 30,730 shares of the financial services provider’s stock valued at $3,686,000 after buying an additional 153 shares during the period. Advisory Services Network LLC boosted its position in Primerica by 176.8% in the 1st quarter. Advisory Services Network LLC now owns 263 shares of the financial services provider’s stock valued at $32,000 after buying an additional 168 shares during the period. GWM Advisors LLC boosted its position in Primerica by 1.7% in the 2nd quarter. GWM Advisors LLC now owns 15,494 shares of the financial services provider’s stock valued at $1,859,000 after buying an additional 253 shares during the period. Finally, Advisor Group Inc. boosted its position in Primerica by 9.8% in the 2nd quarter. Advisor Group Inc. now owns 3,026 shares of the financial services provider’s stock valued at $363,000 after buying an additional 271 shares during the period. Institutional investors own 89.71% of the company’s stock.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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