Keefe, Bruyette & Woods Issues Positive Forecast for Primerica (NYSE:PRI) Stock Price

Primerica (NYSE:PRI) had its price objective lifted by Keefe, Bruyette & Woods from $323.00 to $335.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 6.88% from the stock’s current price.

Several other research analysts have also recently commented on PRI. Morgan Stanley upped their target price on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. TD Cowen lifted their price target on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 24th. Finally, Jefferies Financial Group increased their price objective on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Primerica presently has an average rating of “Hold” and an average price target of $310.67.

Primerica Stock Performance

Shares of PRI opened at $313.44 on Tuesday. The firm has a fifty day moving average of $296.40 and a 200-day moving average of $275.14. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 12.59 and a beta of 0.87. Primerica has a 1 year low of $230.09 and a 1 year high of $327.28.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.46 EPS. Analysts predict that Primerica will post 24.7 EPS for the current year.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the sale, the chief executive officer directly owned 32,196 shares in the company, valued at approximately $10,309,159.20. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 4,800 shares of company stock worth $1,404,387. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Primerica during the 2nd quarter worth $848,161,000. Bank of Montreal Can increased its position in shares of Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after acquiring an additional 1,287,243 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Primerica by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock valued at $205,011,000 after acquiring an additional 37,014 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Primerica by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock worth $162,950,000 after purchasing an additional 7,628 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Primerica by 4.7% in the first quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock valued at $132,556,000 after purchasing an additional 23,850 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

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.