Primerica (NYSE:PRI) Receives Hold Rating from Truist Financial

Primerica (NYSE:PRI)‘s stock had its “hold” rating restated by equities researchers at Truist Financial in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $320.00 price objective on the financial services provider’s stock, down from their previous price objective of $370.00. Truist Financial’s price objective would suggest a potential upside of 6.32% from the company’s current price.

Several other equities analysts have also issued reports on PRI. Morgan Stanley increased their target price on Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research note on Monday. Weiss Ratings lowered shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group raised their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th. 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 report on Tuesday, August 11th. Finally, TD Cowen upped their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Primerica presently has a consensus rating of “Hold” and an average price target of $315.57.

Primerica Stock Performance

Shares of PRI stock opened at $300.99 on Thursday. The firm has a market cap of $9.26 billion, a P/E ratio of 12.09 and a beta of 0.87. The firm’s 50 day moving average price is $304.41 and its 200-day moving average price is $278.79. Primerica has a one year low of $230.09 and a one year high of $327.28.

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

Insider Buying and Selling

In other Primerica news, Director Amber Lynne Cottle sold 279 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total transaction of $87,502.77. Following the completion of the transaction, the director owned 3,549 shares in the company, valued at $1,113,072.87. The trade was a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the sale, the chief executive officer owned 32,196 shares in the company, valued at $10,309,159.20. The trade was a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 5,079 shares of company stock worth $1,551,308. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new position in Primerica in the second quarter valued at approximately $26,000. SJS Investment Consulting Inc. lifted its position in shares of Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after buying an additional 74 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Primerica during the 2nd quarter worth approximately $29,000. Root Financial Partners LLC boosted its holdings in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after buying an additional 61 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Primerica by 68.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after buying an additional 73 shares during the last quarter. 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.