Primerica (NYSE:PRI) Price Target Cut to $330.00 by Analysts at Keefe, Bruyette & Woods

Primerica (NYSE:PRI) had its target price cut by research analysts at Keefe, Bruyette & Woods from $335.00 to $330.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 19.98% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley increased their price objective on Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research report on Monday, August 24th. Truist Financial restated a “hold” rating and set a $320.00 target price (down from $370.00) on shares of Primerica in a research report on Thursday, August 27th. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Jefferies Financial Group upped their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Finally, TD Cowen lifted their price objective on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $318.80.

Primerica Trading Down 0.1%

Shares of PRI traded down $0.34 during mid-day trading on Friday, hitting $275.05. 69,018 shares of the company’s stock were exchanged, compared to its average volume of 201,374. Primerica has a fifty-two week low of $230.09 and a fifty-two week high of $327.28. The firm has a market capitalization of $8.47 billion, a P/E ratio of 11.04 and a beta of 0.88. The business’s 50 day moving average is $294.46 and its two-hundred day moving average is $285.10.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. The firm had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. Primerica’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $5.46 EPS. On average, equities research analysts forecast that Primerica will post 25.23 earnings per share for the current year.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the transaction, the chief executive officer owned 32,196 shares of the company’s stock, valued at $10,309,159.20. This represents a 4.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the completion of the sale, the president directly owned 8,011 shares of the company’s stock, valued at approximately $2,504,639.15. This represents a 18.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 3,579 shares of company stock worth $1,130,573. 0.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Primerica

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Primerica in the 2nd quarter worth about $848,161,000. Bamco Inc. NY acquired a new position in shares of Primerica during the 2nd quarter valued at about $190,827,000. Bank of New York Mellon Corp acquired a new position in shares of Primerica during the 2nd quarter valued at about $79,044,000. Academy Capital Management purchased a new position in shares of Primerica during the 2nd quarter worth about $36,879,000. Finally, Bank of America Corp DE acquired a new stake in shares of Primerica in the second quarter worth approximately $26,769,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Company Profile

Primerica, Inc is a financial services company that helps middle-income families in the United States and Canada address their insurance, investment and financial planning needs. The company primarily distributes its products through a network of independent representatives who provide educational and financial guidance to clients.

Primerica’s offerings include term life insurance, investment and savings products, retirement solutions, annuities and other financial services. Through its affiliated businesses and representatives, the company also provides access to products and services designed to help clients manage debt and pursue long-term financial goals.

The company was founded in 1977 as A.L.