Primerica (NYSE:PRI – Get Free Report) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage currently has a $318.00 target price on the financial services provider’s stock, up from their prior target price of $292.00. BMO Capital Markets’ price objective indicates a potential upside of 16.38% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Morgan Stanley increased their target price on Primerica from $292.00 to $308.00 and gave the stock an “equal weight” rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods increased their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. Finally, Jefferies Financial Group cut their target price on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Primerica has a consensus rating of “Hold” and a consensus target price of $316.29.
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Primerica Stock Down 4.3%
Shares of PRI stock opened at $273.25 on Tuesday. Primerica has a twelve month low of $230.98 and a twelve month high of $307.91. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 13.50 and a beta of 1.00. The business’s fifty day moving average is $267.59 and its 200 day moving average is $268.27.
Primerica (NYSE:PRI – Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The firm had revenue of $796.02 million for the quarter, compared to analysts’ expectations of $790.99 million. During the same period in the prior year, the firm posted $4.71 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts expect that Primerica will post 20.6 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, the chief executive officer owned 36,392 shares of the company’s stock, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of PRI. Hilltop National Bank bought a new position in shares of Primerica in the second quarter worth about $31,000. Cullen Frost Bankers Inc. bought a new position in shares of Primerica in the second quarter worth about $33,000. First Horizon Advisors Inc. raised its stake in shares of Primerica by 1,714.3% in the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock worth $35,000 after buying an additional 120 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Primerica by 108.5% in the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock worth $41,000 after buying an additional 77 shares during the period. Finally, Headlands Technologies LLC raised its stake in shares of Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock worth $48,000 after buying an additional 161 shares during the period. Institutional investors own 90.88% of the company’s stock.
Primerica Company Profile
(Get Free Report)
Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.
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