ValuEngine Lowers Primerica (PRI) to Hold

ValuEngine lowered shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a research note published on Friday.

PRI has been the topic of a number of other reports. Wells Fargo reiterated a market perform rating and set a $100.00 target price (up from $95.00) on shares of Primerica in a research report on Tuesday, January 9th. Zacks Investment Research downgraded Primerica from a buy rating to a hold rating in a research report on Wednesday, January 10th. Finally, SunTrust Banks upped their target price on Primerica to $112.00 and gave the company a hold rating in a research report on Monday, January 22nd. Seven research analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average price target of $101.25.

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NYSE PRI opened at $95.00 on Friday. The company has a market capitalization of $4,176.37, a price-to-earnings ratio of 17.21, a PEG ratio of 1.30 and a beta of 1.13. Primerica has a 52 week low of $70.00 and a 52 week high of $108.05.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.17. The business had revenue of $442.94 million for the quarter, compared to analyst estimates of $435.87 million. Primerica had a return on equity of 19.47% and a net margin of 20.74%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 EPS. equities research analysts expect that Primerica will post 7.24 earnings per share for the current fiscal year.

Primerica declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 7th that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Robert F. Mccullough sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $95.90, for a total transaction of $47,950.00. Following the completion of the sale, the director now owns 18,585 shares of the company’s stock, valued at $1,782,301.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alison S. Rand sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $100.95, for a total value of $201,900.00. Following the sale, the chief financial officer now directly owns 31,385 shares of the company’s stock, valued at approximately $3,168,315.75. The disclosure for this sale can be found here. In the last three months, insiders sold 17,482 shares of company stock valued at $1,770,883. Insiders own 0.89% of the company’s stock.

A number of large investors have recently made changes to their positions in PRI. New York State Common Retirement Fund boosted its holdings in Primerica by 2.6% in the third quarter. New York State Common Retirement Fund now owns 70,034 shares of the financial services provider’s stock worth $5,711,000 after acquiring an additional 1,768 shares in the last quarter. Legal & General Group Plc boosted its holdings in Primerica by 10.8% in the third quarter. Legal & General Group Plc now owns 54,830 shares of the financial services provider’s stock worth $4,473,000 after acquiring an additional 5,348 shares in the last quarter. Stifel Financial Corp boosted its holdings in Primerica by 5.7% in the third quarter. Stifel Financial Corp now owns 57,105 shares of the financial services provider’s stock worth $4,664,000 after acquiring an additional 3,086 shares in the last quarter. AMP Capital Investors Ltd bought a new position in Primerica in the third quarter worth approximately $677,000. Finally, Magnetar Financial LLC bought a new position in Primerica in the third quarter worth approximately $204,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

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Primerica Company Profile

Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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