Primerica, Inc. (PRI) Upgraded to Strong-Buy by BidaskClub
Primerica, Inc. (NYSE:PRI) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday, August 1st.
Several other equities analysts have also recently issued reports on PRI. Wells Fargo & Company cut Primerica from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 20th. Zacks Investment Research lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $83.00 target price on shares of Primerica in a research note on Friday, June 23rd. Finally, William Blair lowered Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.75.
Shares of Primerica (PRI) traded down 0.31% during mid-day trading on Tuesday, reaching $80.60. The company had a trading volume of 247,502 shares. The firm has a 50-day moving average price of $78.71 and a 200-day moving average price of $79.09. Primerica has a 1-year low of $52.50 and a 1-year high of $86.45. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 16.42 and a beta of 1.14.
Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The firm had revenue of $413.70 million for the quarter, compared to analysts’ expectations of $410.97 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 EPS. Equities analysts expect that Primerica will post $5.23 earnings per share for the current year.
In other Primerica news, VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction on Friday, May 26th. The shares were sold at an average price of $71.55, for a total transaction of $143,100.00. Following the completion of the sale, the vice president now owns 37,385 shares of the company’s stock, valued at approximately $2,674,896.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.24% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. James Investment Research Inc. bought a new position in Primerica during the first quarter valued at about $152,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Primerica by 13.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after buying an additional 242 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Primerica by 68.7% in the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,030 shares during the last quarter. Independent Portfolio Consultants Inc. purchased a new position in Primerica during the second quarter worth approximately $211,000. Finally, World Asset Management Inc raised its position in Primerica by 0.6% in the second quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock worth $216,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 97.09% of the company’s stock.
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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