Primerica (PRI) Earns “Market Perform” Rating from Wells Fargo & Co

Primerica (NYSE:PRI)‘s stock had its “market perform” rating restated by analysts at Wells Fargo & Co in a research note issued to investors on Tuesday, The Fly reports. They currently have a $100.00 price target on the financial services provider’s stock, up from their prior price target of $95.00. Wells Fargo & Co’s price objective indicates a potential downside of 3.29% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Wednesday, October 11th. SunTrust Banks downgraded Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 price target on shares of Primerica in a report on Friday, November 10th. Finally, ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Primerica currently has a consensus rating of “Hold” and a consensus target price of $92.40.

Shares of Primerica (PRI) opened at $103.40 on Tuesday. The stock has a market capitalization of $4,580.00, a P/E ratio of 20.08, a PEG ratio of 1.71 and a beta of 1.24. Primerica has a one year low of $69.00 and a one year high of $106.40.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.09. The business had revenue of $427.30 million during the quarter, compared to analyst estimates of $425.83 million. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company earned $1.22 EPS. equities analysts predict that Primerica will post 5.36 EPS for the current year.

In other news, VP Gregory C. Pitts sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total value of $462,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Primerica by 0.3% in the second quarter. Vanguard Group Inc. now owns 5,085,927 shares of the financial services provider’s stock worth $385,260,000 after buying an additional 13,941 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Primerica by 2.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,508,400 shares of the financial services provider’s stock worth $286,111,000 after acquiring an additional 81,603 shares during the period. State Street Corp lifted its position in Primerica by 1.3% during the 2nd quarter. State Street Corp now owns 1,780,565 shares of the financial services provider’s stock worth $134,879,000 after acquiring an additional 22,430 shares during the period. Burgundy Asset Management Ltd. lifted its position in Primerica by 2.7% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,681,212 shares of the financial services provider’s stock worth $137,103,000 after acquiring an additional 43,558 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Primerica by 8.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 927,674 shares of the financial services provider’s stock worth $70,272,000 after acquiring an additional 69,063 shares during the period. Hedge funds and other institutional investors own 95.89% of the company’s stock.

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Primerica Company Profile

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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