According to Zacks, “Primerica, Inc. provides financial products and services. It assists its clients in meeting their needs for term life insurance, which it underwrites, and mutual funds, variable annuities and other financial products, which it distributes primarily on behalf of third parties. The Company’s mission is to serve middle income families by helping them make informed financial decisions and providing them with a strategy and means to gain financial independence. The Company’s sales representatives use its proprietary financial needs analysis, or FNA, tool and an educational approach to demonstrate how its products can assist clients to provide financial protection for their families, save for their retirement and manage their debt. The Company’s clients are generally middle income consumers. Primerica also provides an entrepreneurial business opportunity for individuals to distribute its financial products. The Company is based in Duluth, Georgia. “
Other equities analysts have also recently issued reports about the stock. Wells Fargo & Co. started coverage on shares of Primerica in a report on Thursday, September 22nd. They set a market perform rating on the stock. Keefe, Bruyette & Woods cut shares of Primerica from an outperform rating to a market perform rating and boosted their price target for the company from $58.00 to $60.00 in a report on Tuesday, July 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $61.50.
Shares of Primerica (NYSE:PRI) opened at 55.80 on Wednesday. The stock’s 50 day moving average price is $55.70 and its 200 day moving average price is $53.48. Primerica has a 52 week low of $37.09 and a 52 week high of $59.34. The firm has a market capitalization of $2.59 billion, a P/E ratio of 13.62 and a beta of 0.93.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, August 8th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.06 by $0.13. Primerica had a net margin of 13.90% and a return on equity of 17.32%. The business had revenue of $379.24 million for the quarter, compared to analysts’ expectations of $370.76 million. During the same period in the previous year, the company posted $0.93 EPS. Primerica’s revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Primerica will post $4.41 EPS for the current fiscal year.
In related news, insider Michael C. Adams sold 2,500 shares of Primerica stock in a transaction on Monday, August 1st. The shares were sold at an average price of $51.99, for a total value of $129,975.00. Following the completion of the sale, the insider now owns 40,589 shares of the company’s stock, valued at approximately $2,110,222.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey S. Fendler sold 1,000 shares of Primerica stock in a transaction on Friday, August 12th. The shares were sold at an average price of $56.02, for a total transaction of $56,020.00. Following the completion of the sale, the insider now directly owns 32,988 shares of the company’s stock, valued at approximately $1,847,987.76. The disclosure for this sale can be found here. 1.24% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC raised its stake in Primerica by 72.9% in the second quarter. LS Investment Advisors LLC now owns 2,853 shares of the company’s stock valued at $163,000 after buying an additional 1,203 shares during the last quarter. Huntington National Bank raised its stake in Primerica by 4.2% in the second quarter. Huntington National Bank now owns 2,969 shares of the company’s stock valued at $170,000 after buying an additional 119 shares during the last quarter. Creative Planning raised its stake in Primerica by 289.8% in the third quarter. Creative Planning now owns 3,294 shares of the company’s stock valued at $175,000 after buying an additional 2,449 shares during the last quarter. Calvert Investment Management Inc. acquired a new stake in Primerica during the second quarter valued at about $200,000. Finally, M&T Bank Corp raised its stake in Primerica by 5.7% in the first quarter. M&T Bank Corp now owns 4,613 shares of the company’s stock valued at $205,000 after buying an additional 247 shares during the last quarter.
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. 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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