Primerica (NYSE:PRI) Sets New 1-Year High – What’s Next?

Primerica, Inc. (NYSE:PRI)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $295.67 and last traded at $293.32, with a volume of 23773 shares traded. The stock had previously closed at $276.76.

Wall Street Analyst Weigh In

Several research firms recently commented on PRI. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Piper Sandler began coverage on Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Jefferies Financial Group raised their price objective on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. TD Cowen started coverage on Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 target price on the stock. Finally, Truist Financial increased their target price on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $281.67.

Primerica Stock Performance

The firm has a 50-day moving average of $267.76 and a 200-day moving average of $247.11. The firm has a market capitalization of $9.84 billion, a P/E ratio of 23.36 and a beta of 1.08.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. Primerica’s revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $3.99 earnings per share. On average, research analysts forecast that Primerica, Inc. will post 18.13 EPS for the current fiscal year.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the sale, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $1,657,015 over the last three months. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of Primerica

Several large investors have recently added to or reduced their stakes in PRI. Commonwealth Equity Services LLC increased its position in Primerica by 19.4% in the first quarter. Commonwealth Equity Services LLC now owns 2,797 shares of the financial services provider’s stock worth $708,000 after buying an additional 455 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Primerica by 75.8% in the 1st quarter. BNP Paribas Financial Markets now owns 4,167 shares of the financial services provider’s stock worth $1,054,000 after acquiring an additional 1,797 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Primerica by 7.7% during the first quarter. Janney Montgomery Scott LLC now owns 10,126 shares of the financial services provider’s stock valued at $2,561,000 after purchasing an additional 721 shares in the last quarter. Blue Square Asset Management LLC purchased a new position in Primerica during the first quarter valued at approximately $231,000. Finally, Texas Permanent School Fund Corp boosted its position in shares of Primerica by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,661 shares of the financial services provider’s stock worth $7,756,000 after purchasing an additional 397 shares during the period. 90.88% of the stock is currently owned by institutional investors.

About Primerica

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.