Primerica’s (PRI) Hold Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their hold rating on shares of Primerica, Inc. (NYSE:PRI) in a research note issued to investors on Monday, October 16th. They currently have a $87.00 target price on the financial services provider’s stock.

PRI has been the topic of a number of other research reports. BidaskClub raised shares of Primerica from a buy rating to a strong-buy rating in a report on Tuesday, August 1st. Wells Fargo & Company reaffirmed a hold rating on shares of Primerica in a report on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of Primerica from a hold rating to a buy rating and set a $96.00 target price on the stock in a report on Wednesday, October 11th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $88.50.

Primerica (NYSE:PRI) traded up 2.01% on Monday, hitting $88.85. 229,069 shares of the stock traded hands. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 18.10 and a beta of 1.17. The company’s 50 day moving average price is $81.36 and its 200-day moving average price is $79.12. Primerica has a 52-week low of $52.75 and a 52-week high of $89.60.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The company had revenue of $413.70 million for the quarter, compared to analysts’ expectations of $410.97 million. During the same quarter last year, the company earned $1.23 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts forecast that Primerica will post $5.22 earnings per share for the current fiscal year.

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In related news, VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total value of $153,000.00. Following the transaction, the vice president now directly owns 35,385 shares in the company, valued at approximately $2,706,952.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 1,301 shares of Primerica stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $76.92, for a total transaction of $100,072.92. Following the completion of the transaction, the president now owns 28,138 shares in the company, valued at $2,164,374.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,301 shares of company stock worth $495,113. 0.86% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Prudential Financial Inc. boosted its position in shares of Primerica by 5.0% during the 1st quarter. Prudential Financial Inc. now owns 32,041 shares of the financial services provider’s stock worth $2,634,000 after purchasing an additional 1,528 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Primerica by 1.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 502,000 shares of the financial services provider’s stock worth $38,026,000 after purchasing an additional 5,981 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Primerica by 142.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 858,611 shares of the financial services provider’s stock worth $70,578,000 after purchasing an additional 503,786 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Primerica during the 1st quarter worth $510,000. Finally, FMR LLC boosted its position in shares of Primerica by 10.7% during the 1st quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock worth $144,053,000 after purchasing an additional 169,689 shares in the last quarter. Institutional investors own 94.71% of the company’s stock.

About Primerica

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.

Analyst Recommendations for Primerica (NYSE:PRI)

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