Primerica, Inc. (NYSE:PRI) Upgraded at BidaskClub

Primerica, Inc. (NYSE:PRI) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday, August 1st.

A number of other research analysts also recently issued reports on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $83.00 price target on shares of Primerica in a report on Friday, June 23rd. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, May 12th. William Blair downgraded Primerica from an “outperform” rating to a “market perform” rating in a report on Friday, April 21st. They noted that the move was a valuation call. Finally, Wells Fargo & Company downgraded Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday, April 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Primerica currently has a consensus rating of “Hold” and a consensus target price of $83.75.

Primerica (NYSE:PRI) opened at 76.30 on Tuesday. Primerica has a 52-week low of $52.50 and a 52-week high of $86.45. The company has a market capitalization of $3.42 billion, a P/E ratio of 15.54 and a beta of 1.14. The firm has a 50-day moving average price of $79.23 and a 200 day moving average price of $79.21.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The company had revenue of $413.70 million for the quarter, compared to the consensus estimate of $410.97 million. During the same quarter in the previous year, the business earned $1.23 EPS. Primerica’s revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Primerica will post $5.22 earnings per share for the current fiscal year.

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In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total transaction of $242,040.00. Following the transaction, the chief executive officer now owns 77,895 shares in the company, valued at approximately $6,284,568.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $71.55, for a total value of $143,100.00. Following the transaction, the vice president now owns 37,385 shares in the company, valued at approximately $2,674,896.75. The disclosure for this sale can be found here. 1.24% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of PRI. Norges Bank bought a new stake in Primerica during the fourth quarter valued at $24,345,000. Quadrature Capital Ltd bought a new stake in Primerica during the fourth quarter valued at $812,000. Teachers Advisors LLC increased its stake in Primerica by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 82,422 shares of the financial services provider’s stock valued at $5,699,000 after buying an additional 1,863 shares during the last quarter. Macquarie Group Ltd. increased its stake in Primerica by 7.6% in the fourth quarter. Macquarie Group Ltd. now owns 490,217 shares of the financial services provider’s stock valued at $33,899,000 after buying an additional 34,520 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Primerica by 24.5% in the first quarter. Bank of Montreal Can now owns 6,676 shares of the financial services provider’s stock valued at $549,000 after buying an additional 1,314 shares during the last quarter. Institutional investors own 96.76% of the company’s stock.

About Primerica

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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