Primerica (NYSE:PRI) Price Target Raised to $323.00 at Keefe, Bruyette & Woods

Primerica (NYSE:PRI) had its price objective raised by equities researchers at Keefe, Bruyette & Woods from $305.00 to $323.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 4.46% from the company’s previous close.

PRI has been the topic of a number of other research reports. Morgan Stanley boosted 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. Jefferies Financial Group increased their price target on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday. Finally, Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $298.40.

Primerica Stock Up 1.5%

PRI opened at $309.21 on Monday. The stock’s 50 day moving average price is $279.50 and its two-hundred day moving average price is $267.30. The firm has a market capitalization of $9.64 billion, a P/E ratio of 12.94 and a beta of 0.88. Primerica has a 12-month low of $230.09 and a 12-month high of $308.55.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. During the same period in the previous year, the company earned $5.02 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that Primerica will post 24.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the transaction, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the transaction, the chief executive officer owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This represents a 4.26% 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. 0.63% of the stock is owned by insiders.

Institutional Trading of Primerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. raised its position in Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 74 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Primerica during the fourth quarter valued at approximately $30,000. Root Financial Partners LLC boosted its holdings in Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Primerica by 68.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 73 shares during the period. Finally, Steph & Co. grew its stake in shares of Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 54 shares during the period. Institutional investors own 90.88% of the company’s stock.

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.