Morgan Stanley Issues Positive Forecast for Primerica (NYSE:PRI) Stock Price

Primerica (NYSE:PRI) had its target price boosted by analysts at Morgan Stanley from $280.00 to $291.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 3.58% from the stock’s current price.

Several other analysts have also recently commented on the stock. TD Cowen reissued a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods increased their price objective on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $297.80.

Primerica Stock Performance

Shares of NYSE:PRI traded down $0.11 on Thursday, hitting $280.95. The stock had a trading volume of 11,330 shares, compared to its average volume of 207,972. The firm’s 50 day moving average price is $264.58 and its 200-day moving average price is $261.00. Primerica has a twelve month low of $230.09 and a twelve month high of $288.03. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 11.78 and a beta of 0.91.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $5.02 EPS. As a group, sell-side analysts predict that Primerica will post 24.2 EPS for the current year.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.63% of the company’s stock.

Institutional Trading of Primerica

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings in shares of Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after buying an additional 1,287,243 shares during the period. Invesco Ltd. raised its holdings in shares of Primerica by 200.3% during the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after acquiring an additional 238,571 shares during the period. Life Cycle Investment Partners Ltd bought a new stake in Primerica in the 4th quarter valued at $40,714,000. Millennium Management LLC lifted its position in Primerica by 183.3% in the 4th quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock valued at $54,823,000 after acquiring an additional 137,297 shares in the last quarter. Finally, Danske Bank A S acquired a new position in Primerica in the 3rd quarter worth $30,396,000. 90.88% of the stock is owned by institutional investors.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.