Primerica (NYSE:PRI) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

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. “

Several other equities analysts also recently weighed in on PRI. increased their price target on shares of Primerica from $140.00 to $144.00 and gave the stock a sell rating in a report on Monday, June 21st. William Blair reiterated an outperform rating on shares of Primerica in a research report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Primerica presently has a consensus rating of Hold and an average target price of $166.00.

Shares of PRI opened at $144.29 on Tuesday. The firm has a market capitalization of $5.70 billion, a P/E ratio of 13.11 and a beta of 1.48. Primerica has a 12-month low of $107.63 and a 12-month high of $165.35. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $148.52 and a 200-day moving average price of $152.88.

Primerica (NYSE:PRI) last released its quarterly earnings data on Thursday, August 5th. The financial services provider reported $3.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.37. The company had revenue of $654.16 million during the quarter, compared to analyst estimates of $617.60 million. Primerica had a net margin of 17.82% and a return on equity of 23.32%. Analysts predict that Primerica will post 11.63 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 14th. Stockholders of record on Friday, August 20th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Thursday, August 19th. Primerica’s payout ratio is currently 19.38%.

In related news, CFO Alison S. Rand sold 1,500 shares of the stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $152.20, for a total transaction of $228,300.00. Following the transaction, the chief financial officer now directly owns 13,347 shares in the company, valued at $2,031,413.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $152.54, for a total value of $533,890.00. Following the completion of the transaction, the president now owns 22,672 shares in the company, valued at $3,458,386.88. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Summit Wealth Group LLC acquired a new stake in Primerica during the 1st quarter valued at approximately $28,000. SkyView Investment Advisors LLC grew its stake in Primerica by 390.2% during the 1st quarter. SkyView Investment Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 160 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Primerica during the 1st quarter valued at approximately $32,000. Advisory Services Network LLC acquired a new stake in Primerica during the 2nd quarter valued at approximately $35,000. Finally, Harvest Fund Management Co. Ltd grew its stake in Primerica by 164.0% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 330 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Primerica Company Profile

Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.

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