Primerica, Inc. (NYSE:PRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, May 12th.
According to Zacks, “Primerica, Inc. provides financial products and services. It assists its clients in meeting their needs for term life insurance, which it underwrites, and mutual funds, variable annuities and other financial products, which it distributes primarily on behalf of third parties. The Company’s mission is to serve middle income families by helping them make informed financial decisions and providing them with a strategy and means to gain financial independence. The Company’s sales representatives use its proprietary financial needs analysis, or FNA, tool and an educational approach to demonstrate how its products can assist clients to provide financial protection for their families, save for their retirement and manage their debt. The Company’s clients are generally middle income consumers. Primerica also provides an entrepreneurial business opportunity for individuals to distribute its financial products. The Company is based in Duluth, Georgia. “
A number of other equities research analysts have also recently issued reports on PRI. SunTrust Banks, Inc. set a $95.00 price objective on Primerica and gave the stock a “buy” rating in a research note on Saturday, February 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $81.00 target price on shares of Primerica in a report on Monday, April 10th. William Blair lowered Primerica from an “outperform” rating to a “market perform” rating in a report on Friday, April 21st. They noted that the move was a valuation call. Wells Fargo & Co lowered Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday, April 20th. Finally, Citigroup Inc initiated coverage on Primerica in a report on Thursday, January 26th. They set a “neutral” rating and a $76.00 target price on the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $83.25.
Primerica (NYSE:PRI) opened at 71.45 on Friday. Primerica has a one year low of $49.69 and a one year high of $86.45. The firm has a market cap of $3.25 billion, a P/E ratio of 14.94 and a beta of 1.15. The firm’s 50-day moving average price is $79.57 and its 200 day moving average price is $77.05. Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by $0.04. Primerica had a return on equity of 17.98% and a net margin of 14.44%. The company had revenue of $405.20 million for the quarter, compared to the consensus estimate of $401.58 million. During the same quarter in the prior year, the company earned $0.93 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts forecast that Primerica will post $5.23 EPS for the current year.
In other Primerica news, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $71.55, for a total value of $143,100.00. Following the transaction, the vice president now directly owns 37,385 shares of the company’s stock, valued at approximately $2,674,896.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William A. Kelly sold 2,500 shares of the company’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $82.29, for a total value of $205,725.00. Following the completion of the transaction, the insider now directly owns 20,486 shares in the company, valued at $1,685,792.94. The disclosure for this sale can be found here. Insiders have sold a total of 6,350 shares of company stock worth $499,230 over the last three months. 1.24% of the stock is owned by insiders. Hedge funds and other institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC raised its position in shares of Primerica by 1.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,582 shares of the financial services provider’s stock worth $109,000 after buying an additional 16 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Primerica by 1.7% in the first quarter. TD Asset Management Inc. now owns 3,030 shares of the financial services provider’s stock worth $249,000 after buying an additional 52 shares in the last quarter. Profund Advisors LLC raised its position in shares of Primerica by 1.4% in the first quarter. Profund Advisors LLC now owns 8,669 shares of the financial services provider’s stock worth $713,000 after buying an additional 121 shares in the last quarter. Blair William & Co. IL raised its position in shares of Primerica by 1.5% in the first quarter. Blair William & Co. IL now owns 8,293 shares of the financial services provider’s stock worth $676,000 after buying an additional 121 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Primerica by 1.7% in the first quarter. SG Americas Securities LLC now owns 8,180 shares of the financial services provider’s stock worth $672,000 after buying an additional 139 shares in the last quarter.
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