Keefe, Bruyette & Woods Has Lowered Expectations for Primerica (NYSE:PRI) Stock Price

by · The Markets Daily

Primerica (NYSE:PRI – Get Free Report) had its price objective decreased by stock analysts at Keefe, Bruyette & Woods from $320.00 to $315.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 15.67% from the stock’s current price.

A number of other research firms have also commented on PRI. Truist Financial increased their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Monday. Piper Sandler cut their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, TD Cowen raised their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $303.00.

Check Out Our Latest Stock Analysis on PRI

Primerica Stock Performance

Shares of PRI stock traded down $6.12 on Friday, reaching $272.33. 23,832 shares of the company’s stock traded hands, compared to its average volume of 132,858. Primerica has a 12-month low of $184.76 and a 12-month high of $307.91. The company has a market capitalization of $9.09 billion, a P/E ratio of 20.80 and a beta of 1.11. The business’s 50 day moving average price is $286.20 and its two-hundred day moving average price is $267.30.

Primerica (NYSE:PRI – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter in the previous year, the firm earned $4.28 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts predict that Primerica will post 19.32 earnings per share for the current year.

Primerica declared that its board has authorized a share repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the third quarter valued at approximately $31,000. Prospera Private Wealth LLC bought a new stake in shares of Primerica during the 3rd quarter valued at $31,000. UMB Bank n.a. raised its position in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the period. Larson Financial Group LLC grew its stake in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Finally, Quarry LP grew its stake in Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 302 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

About Primerica

(Get Free Report)

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.

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