Primerica (NYSE:PRI) PT Raised to $175.00 at Morgan Stanley

Primerica (NYSE:PRI) had its target price raised by investment analysts at Morgan Stanley from $170.00 to $175.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 7.61% from the company’s previous close.

PRI has been the subject of a number of other reports. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, September 21st. William Blair restated an “outperform” rating on shares of Primerica in a research report on Monday, September 20th. Finally, raised their price objective on Primerica from $140.00 to $144.00 and gave the stock a “sell” rating in a research report on Monday, June 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $166.83.

Shares of PRI stock traded up $1.09 during mid-day trading on Thursday, reaching $162.62. 2 shares of the stock traded hands, compared to its average volume of 134,226. The stock’s fifty day simple moving average is $151.60 and its two-hundred day simple moving average is $153.48. Primerica has a 1-year low of $107.63 and a 1-year high of $165.35. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 14.77 and a beta of 1.48. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.06.

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

In other Primerica news, President Peter W. Schneider sold 3,500 shares of Primerica stock in a transaction that occurred on 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 sale, the president now directly owns 22,672 shares in the company, valued at $3,458,386.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alison S. Rand sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $152.20, for a total value of $228,300.00. Following the sale, the chief financial officer now owns 13,347 shares of the company’s stock, valued at approximately $2,031,413.40. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRI. FMR LLC increased its holdings in shares of Primerica by 31.3% during the second quarter. FMR LLC now owns 2,500,496 shares of the financial services provider’s stock valued at $382,926,000 after acquiring an additional 595,992 shares in the last quarter. Brave Warrior Advisors LLC increased its holdings in shares of Primerica by 13.1% during the first quarter. Brave Warrior Advisors LLC now owns 1,888,591 shares of the financial services provider’s stock valued at $279,171,000 after acquiring an additional 218,581 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Primerica by 4.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,010,533 shares of the financial services provider’s stock valued at $592,841,000 after acquiring an additional 166,973 shares in the last quarter. AGF Investments Inc. boosted its position in shares of Primerica by 27.7% during the first quarter. AGF Investments Inc. now owns 526,811 shares of the financial services provider’s stock valued at $77,873,000 after buying an additional 114,296 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Primerica by 11.5% during the second quarter. State Street Corp now owns 1,067,652 shares of the financial services provider’s stock valued at $163,500,000 after buying an additional 109,815 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Primerica

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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