Primerica’s (PRI) “Hold” Rating Reaffirmed at Truist Financial

Primerica (NYSE:PRI)‘s stock had its “hold” rating reissued by stock analysts at Truist Financial in a research report issued on Thursday, Marketbeat.com reports. They presently have a $320.00 target price on the financial services provider’s stock, down from their prior target price of $370.00. Truist Financial’s price objective would indicate a potential upside of 6.32% from the company’s previous close.

A number of other research analysts have also commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a research note on Tuesday, August 11th. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. TD Cowen boosted their price target on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley upped their price objective on Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Jefferies Financial Group lifted their target price on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $315.57.

Primerica Trading Up 1.1%

Shares of NYSE PRI opened at $300.99 on Thursday. The stock has a market cap of $9.26 billion, a P/E ratio of 12.09 and a beta of 0.87. The stock has a 50 day moving average of $304.41 and a two-hundred day moving average of $278.79. Primerica has a twelve month low of $230.09 and a twelve month high of $327.28.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. During the same period in the previous year, the company posted $5.46 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts predict that Primerica will post 25.09 earnings per share for the current year.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction dated 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 owned 8,011 shares in the company, valued at $2,504,639.15. This trade represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Lynne Cottle sold 279 shares of Primerica stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the sale, the director directly owned 3,549 shares in the company, valued at $1,113,072.87. This represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,079 shares of company stock valued at $1,551,308 over the last ninety days. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Primerica during the second quarter valued at approximately $848,161,000. KBC Group NV grew its stake in Primerica by 2,664.8% in the 1st quarter. KBC Group NV now owns 24,496 shares of the financial services provider’s stock worth $6,136,000 after acquiring an additional 23,610 shares during the period. Arbejdsmarkedets Tillaegspension purchased a new stake in Primerica in the 4th quarter worth approximately $23,767,000. Jefferies Financial Group Inc. acquired a new position in Primerica in the 4th quarter valued at $2,289,000. Finally, Oxbow Advisors LLC purchased a new position in shares of Primerica during the 4th quarter worth $3,170,000. Hedge funds and other institutional investors 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.