Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for Primerica (NYSE:PRI)

Primerica (NYSE:PRI)‘s stock had its “market perform” rating restated by investment analysts at Keefe, Bruyette & Woods in a research note issued on Thursday,Benzinga reports. They currently have a $290.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 14.92% from the company’s previous close.

PRI has been the subject of a number of other reports. Morgan Stanley reduced their price target on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Finally, Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $293.60.

Primerica Stock Performance

NYSE:PRI traded up $0.47 during trading hours on Thursday, hitting $252.36. 45,154 shares of the company’s stock traded hands, compared to its average volume of 219,167. The firm has a market cap of $7.99 billion, a P/E ratio of 11.02 and a beta of 0.92. Primerica has a twelve month low of $230.09 and a twelve month high of $293.58. The stock’s fifty day moving average price is $257.70 and its two-hundred day moving average price is $261.41.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The firm had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. During the same period last year, the company posted $5.03 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that Primerica will post 20.6 earnings per share for the current year.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the completion of the sale, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at $7,023,582.72. The trade was a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total transaction of $454,284.00. Following the transaction, the president owned 11,611 shares in the company, valued at $2,930,384.18. This represents a 13.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Primerica

Several institutional investors have recently bought and sold shares of PRI. Root Financial Partners LLC acquired a new stake in shares of Primerica in the third quarter worth about $27,000. Smartleaf Asset Management LLC raised its stake in shares of Primerica by 186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 69 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Primerica in the 4th quarter worth approximately $30,000. Quent Capital LLC acquired a new stake in Primerica in the 3rd quarter worth approximately $33,000. Finally, Torren Management LLC bought a new stake in Primerica during the fourth quarter worth approximately $50,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.