Analysts Set Primerica, Inc. (NYSE:PRI) PT at $300.00

Primerica, Inc. (NYSE:PRI) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $300.00.

A number of equities analysts recently commented on PRI shares. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings cut Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Finally, Morgan Stanley set a $292.00 price target on shares of Primerica in a report on Monday, December 15th.

Primerica Stock Up 1.8%

Shares of NYSE:PRI opened at $276.37 on Friday. The stock has a market capitalization of $8.82 billion, a PE ratio of 12.70 and a beta of 0.91. The firm’s 50 day moving average price is $260.40 and its 200-day moving average price is $263.90. Primerica has a twelve month low of $230.98 and a twelve month high of $298.75.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, beating analysts’ consensus estimates of $5.52 by $0.81. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The business had revenue of $838.88 million during the quarter, compared to analysts’ expectations of $817.81 million. During the same period in the prior year, the company earned $4.83 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Analysts expect that Primerica will post 20.6 earnings per share for the current fiscal year.

Primerica announced that its board has approved a share buyback plan on Wednesday, November 19th that allows the company to buyback $475.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Primerica

In other Primerica news, Director Joel M. Babbit sold 700 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the sale, the director directly owned 8,400 shares of the company’s stock, valued at $2,142,000. This trade represents a 7.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $255.30, for a total transaction of $510,600.00. Following the sale, the president owned 7,301 shares in the company, valued at approximately $1,863,945.30. The trade was a 21.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,200 shares of company stock valued at $1,338,225 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

Hedge funds have recently bought and sold shares of the stock. Burgundy Asset Management Ltd. increased its holdings in shares of Primerica by 1.8% in the second quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock worth $364,932,000 after purchasing an additional 23,454 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Primerica by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock valued at $170,248,000 after buying an additional 2,525 shares in the last quarter. First Trust Advisors LP increased its stake in Primerica by 12.4% in the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock worth $136,597,000 after acquiring an additional 54,158 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Primerica by 25.5% during the 3rd quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock worth $96,089,000 after acquiring an additional 70,510 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Primerica by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 318,653 shares of the financial services provider’s stock valued at $87,206,000 after acquiring an additional 3,024 shares during the last quarter. Hedge funds and other 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.