Primerica (NYSE:PRI) Given New $315.00 Price Target at Keefe, Bruyette & Woods

Primerica (NYSE:PRI) had its target price reduced by investment analysts at Keefe, Bruyette & Woods from $320.00 to $315.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 30.71% from the company’s current price.

A number of other research analysts have also recently issued reports on PRI. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. Piper Sandler decreased their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, Morgan Stanley dropped their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $309.14.

Primerica Trading Down 1.4 %

PRI stock traded down $3.40 during trading on Wednesday, hitting $240.99. 22,843 shares of the stock traded hands, compared to its average volume of 168,781. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 17.53 and a beta of 1.03. Primerica has a one year low of $184.76 and a one year high of $307.91. The company has a 50 day simple moving average of $282.15 and a 200 day simple moving average of $282.28.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, analysts predict that Primerica will post 20.6 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now directly owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock valued at $1,476,575 in the last 90 days. 0.85% of the stock is owned by company insiders.

Institutional Trading of Primerica

A number of large investors have recently made changes to their positions in PRI. Colonial Trust Co SC bought a new stake in shares of Primerica in the fourth quarter worth about $25,000. True Wealth Design LLC acquired a new stake in shares of Primerica in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new stake in Primerica in the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after buying an additional 115 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

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.