Primerica, Inc. (PRI) Downgraded to Market Perform at Wells Fargo & Co
Wells Fargo & Co cut shares of Primerica, Inc. (NYSE:PRI) from an outperform rating to a market perform rating in a report published on Thursday, The Fly reports.
Other equities research analysts have also recently issued research reports about the company. SunTrust Banks, Inc. set a $95.00 target price on Primerica and gave the company a buy rating in a report on Saturday, February 11th. Keefe, Bruyette & Woods set a $78.00 target price on Primerica and gave the company a hold rating in a report on Friday, March 17th. Zacks Investment Research upgraded Primerica from a hold rating to a buy rating and set a $81.00 target price on the stock in a report on Friday, January 13th. Finally, Citigroup Inc began coverage on Primerica in a report on Thursday, January 26th. They set a neutral rating and a $76.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $83.25.
Shares of Primerica (NYSE:PRI) traded down 2.23% on Thursday, reaching $83.15. The company had a trading volume of 569,259 shares. The company’s 50-day moving average price is $81.69 and its 200 day moving average price is $71.82. Primerica has a 52 week low of $47.92 and a 52 week high of $85.20. The firm has a market capitalization of $3.80 billion, a P/E ratio of 18.14 and a beta of 1.15.
Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, February 8th. The financial services provider reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. Primerica had a return on equity of 17.98% and a net margin of 14.44%. The firm earned $393.90 million during the quarter, compared to the consensus estimate of $386.46 million. Primerica’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. On average, analysts expect that Primerica will post $5.25 EPS for the current year.
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In other Primerica news, insider William A. Kelly sold 2,500 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $82.29, for a total transaction of $205,725.00. Following the sale, the insider now owns 20,486 shares in the company, valued at approximately $1,685,792.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director P George Benson sold 500 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $81.55, for a total value of $40,775.00. Following the sale, the director now owns 14,045 shares in the company, valued at approximately $1,145,369.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,850 shares of company stock worth $806,755. 1.24% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in PRI. O Shaughnessy Asset Management LLC boosted its stake in shares of Primerica by 1.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,582 shares of the financial services provider’s stock worth $109,000 after buying an additional 16 shares during the period. LS Investment Advisors LLC boosted its stake in Primerica by 5.6% in the third quarter. LS Investment Advisors LLC now owns 3,014 shares of the financial services provider’s stock valued at $160,000 after buying an additional 161 shares during the period. Fortaleza Asset Management Inc. boosted its stake in Primerica by 7.8% in the fourth quarter. Fortaleza Asset Management Inc. now owns 2,275 shares of the financial services provider’s stock valued at $157,000 after buying an additional 165 shares during the period. Louisiana State Employees Retirement System boosted its stake in Primerica by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,500 shares of the financial services provider’s stock valued at $945,000 after buying an additional 200 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in Primerica by 4.7% in the first quarter. Capstone Asset Management Co. now owns 5,603 shares of the financial services provider’s stock valued at $461,000 after buying an additional 250 shares during the period.
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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