Primerica (NYSE:PRI) Raised to “Buy” at ValuEngine

Primerica (NYSE:PRI) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday, February 2nd.

Several other brokerages have also weighed in on PRI. SunTrust Banks upped their price objective on shares of Primerica to $112.00 and gave the company a “hold” rating in a report on Monday, January 22nd. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Wells Fargo & Co reiterated a “market perform” rating and set a $100.00 price objective (up previously from $95.00) on shares of Primerica in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $95.00 price objective on shares of Primerica in a report on Friday, November 10th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Primerica currently has a consensus rating of “Hold” and an average price target of $101.25.

Primerica (NYSE:PRI) traded up $0.47 during mid-day trading on Friday, reaching $95.62. 17,641 shares of the company traded hands, compared to its average volume of 203,530. The firm has a market capitalization of $4,261.09, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14. Primerica has a 1-year low of $70.00 and a 1-year high of $108.05.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.17. Primerica had a net margin of 20.74% and a return on equity of 19.47%. The business had revenue of $442.94 million for the quarter, compared to analyst estimates of $435.87 million. During the same quarter in the previous year, the business earned $1.19 earnings per share. Primerica’s revenue for the quarter was up 12.5% on a year-over-year basis. equities research analysts anticipate that Primerica will post 6.88 EPS for the current year.

Primerica announced that its board has approved a stock repurchase program on Wednesday, February 7th that allows the company to buyback $225.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently modified their holdings of the business. Mountain Capital Investment Advisors Inc bought a new position in shares of Primerica during the 2nd quarter valued at approximately $125,000. Flinton Capital Management LLC grew its position in shares of Primerica by 69.5% during the 2nd quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 912 shares during the period. Parametrica Management Ltd bought a new position in shares of Primerica during the 4th quarter valued at approximately $203,000. Magnetar Financial LLC bought a new position in shares of Primerica during the 3rd quarter valued at approximately $204,000. Finally, Jane Street Group LLC bought a new position in shares of Primerica during the 3rd quarter valued at approximately $215,000. 94.36% of the stock is owned by institutional investors and hedge funds.

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Primerica Company Profile

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.

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