Primerica (NYSE:PRI) Price Target Raised to $340.00 at Truist Financial

Primerica (NYSE:PRI) had its price objective raised by research analysts at Truist Financial from $300.00 to $340.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective indicates a potential upside of 15.94% from the stock’s current price.

A number of other analysts have also issued reports on the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Financial Group raised their target price on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Morgan Stanley raised their price objective on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler started coverage on Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Finally, TD Cowen started coverage on Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 target price for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Primerica currently has a consensus rating of “Hold” and a consensus target price of $288.33.

Primerica Price Performance

Primerica stock traded up $2.61 during mid-day trading on Friday, hitting $293.26. The company’s stock had a trading volume of 3,419 shares, compared to its average volume of 154,347. Primerica has a 52-week low of $184.76 and a 52-week high of $295.67. The firm’s 50 day moving average is $268.94 and its 200 day moving average is $247.72. The company has a market cap of $9.92 billion, a PE ratio of 23.72 and a beta of 1.08.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.99 EPS. As a group, analysts forecast that Primerica will post 18.13 EPS for the current year.

Insider Buying and Selling

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now owns 15,151 shares in the company, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,500 shares of company stock worth $1,657,015. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Primerica

Several hedge funds have recently added to or reduced their stakes in PRI. ORG Partners LLC acquired a new position in shares of Primerica in the second quarter worth approximately $30,000. V Square Quantitative Management LLC bought a new stake in Primerica during the third quarter valued at $31,000. UMB Bank n.a. increased its holdings in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares in the last quarter. Blue Trust Inc. boosted its stake in Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Primerica in the 2nd quarter valued at about $71,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.